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Friday, May 24, 2024

Tata Group’s Air India to enter new era with its first A350-900, new logo

On Saturday, Air India unveiled an aircraft that has a new logo.  

The airline, owned by Tata Group, wrote on Twitter (now X), “The Toulouse paint shop unveils the majestic A350 in our new livery. Winter brings our A350s home.”

After buying debt-ridden Air India, the airline entirely restructured.

First Airbus A350-900 in India

Air India acquired its first Airbus A350-900 aircraft last month through a finance lease agreement with HSBC through Gujarat International Finance Tec-City. GIFT City, the country’s first International Financial Services Centre, leased its first wide-body aircraft.

The airline said its wholly-owned subsidiary AI Fleet Services Ltd. (AIFS) arranged the deal, which is the first finance transaction from the orders for 470 aircraft made earlier this year.

Air India’s first A350-900 is also the first widebody leased through India’s first IFSC. The transaction was facilitated by AI Fleet Services Limited (AIFS), a 100% Air India subsidiary and GIFT IFSC-registered financial entity “Air India claimed.

“This landmark transaction marks the beginning of our aircraft leasing business from GIFT IFSC, as AIFS will be the primary Air India Group entity for widebody aircraft financing, shaping our and our subsidiaries’ future aircraft financing strategy “Air India Chief Commercial & Transformation Officer Nipun Aggarwal stated.

Air India bought 6 A350-900s.

The airline ordered six A350-900s, with five scheduled for delivery by March 2024. The airline has also ordered 34 A350-1000s, 20 Boeing 787 Dreamliners, 10 Boeing 777Xs, 140 A320 neos, 70 A321 neos, and 190 Boeing 737MAXs.

Air India bought these planes from Airbus and Boeing in June. Air India has 116 planes, 49 of which are wide-body. The fleet contains 27 B787-8s, 14 B777-300s, 8 B777-200LRs, 14 A319s, 36 A320 neos, 13 A321 ceos, and 4 A321 neo

Tata Group is restructuring its airlines. This consolidation will merge AIX Connect and Air India Express, and Vistara with Air India. Tatas partners with Singapore Airlines, which owns 49% of Vistara.

Conclusion:-

Tata Group subsidiary Air India purchased India’s first Airbus A350-900 aircraft through a finance lease arrangement with HSBC through Gujarat International Finance Tec-City. AI Fleet Services Ltd. (AIFS), a 100% Air India subsidiary and GIFT IFSC-registered financing business, handled the transaction. GIFT IFSC will start leasing aircraft after the acquisition, with AIFS being the major Air India Group entity for widebody aircraft financing. Air India ordered six A350-900s, with five delivered by March 2024. The airline has 116 planes, 49 of which are wide-body. AIX Connect will unite with Air India Express and Vistara with Air India as Tata Group streamlines its airline business. Winter will bring A350s home. Nipun Aggarwal, the airline’s Chief Commercial & Transformation Officer, said this significant transaction launched its GIFT IFSC aircraft leasing business.

Sunil Pandey
Sunil Pandey

The business professional who loves penning down his thoughts/ insights on business, entrepreneurship, & startups. His ability to break down complex business concepts into easy & concise write-ups makes him a wonderful author. He believes that writing is a powerful tool for communication and education.

Sunil Pandey
The business professional who loves penning down his thoughts/ insights on business, entrepreneurship, & startups. His ability to break down complex business concepts into easy & concise write-ups makes him a wonderful author. He believes that writing is a powerful tool for communication and education.

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