Air India looks to sell aircraft as dedicated cargo plan falters
January 9, 2012
In a bid to shore-up its falling revenues, cash-strapped Air India plans to sell six B737 freighters, virtually ending its plan to launch a dedicated cargo service.
The state-owned airline has already offered to lease-out five of its eight B777-200 aircraft for eight to ten years and decided to go for sale and leaseback of the first seven Boeing 787 Dreamliners it is expected to receive this year.
The six 30-year-old B737-200s were converted into freighters in 2007, when the airline planned to launch a pan-India cargo service using Nagpur as its hub.
Air India later shelved the plan due to financial worries and sold four Airbus-310 freighters.
As well as the B727 freighters, the latest global tender also includes an intention to sell eight aircraft engines, four auxiliary power units, aircraft seats and spares.
The Indian Group of Ministers and the Union Cabinet are expected to review the steps being taken by the ailing national carrier to check its mounting debts.
The decision to lease out the B777s was taken after the B787s were ordered, the first of which is expected to arrive this month. The second Dreamliner is expected in March, the third in April and two each in May and June.
They were planned replace the B777s on long-haul, direct routes like those to the US and Canada. The airline is also contemplating launching direct flights to Australia with these aircraft, sources said.
Courtesy of IFW
