Amsterdam, Netherlands, 7th December, 2020: SMBC Aero Engine Lease (SAEL) is pleased to announce that the sale and lease back of 3 x CFM LEAP1A spare engines for Vistara – India’s finest full-service carrier and a joint venture of Tata group and Singapore Airlines, has been concluded.
Akinori Kojima, Managing Director and CEO (SAEL) said, “We’re extremely pleased to complete these sale & leaseback transactions with Vistara over the course of 2020. Vistara has grown to become one of the leading international full-service carriers in South Asia and we believe these spare engines will continue to support their A320 NEO / A321 NEO fleet operations. We are delighted to have established our partnership and support their continued growth during the most challenging times for the aviation industry”.
Niyant Maru, Chief Financial Officer, Vistara said, “We are delighted to start the relationship with SMBC Aero Engine Lease with these three spare engines leasing transaction and look forward to strengthening our association in future. At Vistara, we believe that our partners play an equally important role in our growth journey and we welcome SAEL onboard in our growing network of partners.”
This is the first aircraft engine lease transaction for SAEL with Vistara.
TATA SIA Airlines Limited, known by the brand name Vistara, is a 51:49 joint venture between Tata Sons Limited and Singapore Airlines Limited (SIA). Vistara brings together Tata’s and SIA’s legendary hospitality and renowned service excellence to offer the finest full-service flying experience in India. Vistara commenced its commercial operations on January 9, 2015 with an aim to set new standards in the aviation industry in India and it today connects destinations across India and abroad. The airline has a fleet of 45 aircraft, including 35 Airbus A320, two Airbus A321neo, six Boeing 737-800NG and two Boeing 787-9 Dreamliner aircraft, and has flown more than 20 million customers since starting operations.
For more information about Vistara, visit www.airvistara.com