Air India Express, the low-cost arm of Air India Group, has received its first two Boeing 737-8 aircraft.
These aircraft form part of a lease agreement with global aircraft lessor AviLease. This week’s arrivals mark the initial deliveries from a total of six planned for 2024.
The Boeing 737-8 is a leader in its class, recognized for its fuel efficiency, sustainability, and cutting-edge technology.
This deal aligns with AviLease’s strategy of building a diverse portfolio featuring the latest-generation narrow-body and wide-body aircraft.
“We are thrilled to deliver the first two of these six Boeing 737-8s to Air India Express,” said Edward O’Byrne, CEO of AviLease.
“Our partnership with the airline strengthens under the Tata Group, and we’re proud to support their fleet modernization efforts.”
“We commend Air India Express’s dedication to offering affordable and dependable air travel, and we wish them continued success.”
AviLease
Beyond this specific agreement, AviLease plays a vital role in supporting Saudi Arabia’s Vision 2030. PIF, Saudi Arabia’s sovereign wealth fund wholly own the leasing company.
The company fulfills a Public Investment Fund (PIF) mandate to unlock potential in key sectors, fostering economic diversification and non-oil GDP growth.
Their focus extends to creating local economic opportunities and jobs within the Kingdom’s aviation and financial sectors.
Air India Express
Air India Express is an Indian low-cost airline and a wholly owned subsidiary of Indian flag carrier airline.
It is currently headquartered in Gurgaon, Haryana. The budget subsidiary operates more than 2,000 flights per week to 45 destinations across India, the Middle East, and Southeast Asia.
In 2005, Air India launched Air India Express as a budget-friendly option to compete with their own services. The airline’s primary focus is on providing affordable air travel to the Indian diaspora in the Middle East and Southeast Asia.
The Tata Group-owned airline is a major player in the Indian low-cost carrier market, and competes with other budget carriers such as IndiGo.
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