Air India to Sell Boeing 787 Jets and Lease Them Back
Air India Boeing 787
Air India is seeking a $500 million loan to purchase four of the Boeing 787 Dreamliners they have ordered. They will then sell the aircraft and lease them back according to a document released by the airline.
(see the document HERE)
This strategy is not a surprise as they were rumored to be doing this 2 months ago. In fact, the Indian based airline plans to sell all 27 787 planes it has ordered and lease them back as part of their financial turnaround plan.
Air India has $4.2 billion in debts and has been struggling to turn any profit for some time.
Category: Airnation
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Are you kidding me?? Is this the same airline that was demanding compensation from Boeing for these 787′s? Someone’s getting screwed here.
Air India has been trying to work Boeing to get a huge ‘rebate’ because their planes are late. If these had been any other aircraft (other than 787s) AI would’ve probably just walked away.
BUT….since these are Dreamliners…no matter what some airlines are saying publicly, everybody would love to get their hands on some this year. Air India knows this, so they’re trying to work in their favor by selling them and then leasing back what they need.
My prediction is they won’t even lease half of them back.
Ahh, i see! That makes sense, but it still doesn’t change the fact that Air India is trying to cheat everyone! LOL I suppose they’ve gotta do whatever they can to stay in business…
Sketchy. And they want banks / financial institutions to send a written offer by snail mail.
I thought they might do this earlier. Since they are getting their planes a lot earlier than some other airlines, couldn’t they make a large profit by selling them for a higher price to some other airline which needed them sooner?