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Vistara inks $3.1 billion deal with Boeing, Airbus

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Vistara, the joint venture between Tata Sons and Singapore Airlines, on Wednesday, signed a deal with Airbus for 13 aircraft from the A320neo and Boeing for six 787-9 Dreamliner.

Vistara inks $3.1 billion deal with Boeing, Airbus
Vistara, the joint venture between Tata Sons and Singapore Airlines, on Wednesday, signed a deal with Airbus for 13 aircraft from the A320neo and Boeing for six 787-9 Dreamliner.
Together, the deals are valued at $3.1 billion, based on published list prices, the company said in a statement.
The actual deal value would be lower as airlines usually get discounts on list prices.
The letter of intent signed with Airbus comprises 13 firm-ordered A320neo and A321neo aircraft, as well as options for seven more aircraft from the A320neo family, the company said.
To power the A320neo and A321neo aircraft, Vistara has selected the LEAP 1-A engines from CFM International, which will be due for delivery between 2019 and 2023.
The pact signed with Boeing comprises six firm-ordered 787-9 Dreamliner and purchase rights for four more aircraft from the 787 Dreamliner family, the statement said.
Vistara has selected the General Electric GEnx-1B engines to power the aircraft, which are scheduled to be delivered between 2020 and 2021, it added.
Vistara will also lease another 37 new A320neo aircraft from leasing companies, the company said, adding that together, the airline will be adding a total of 50 A320neo-family aircraft into its existing fleet.
The airline will use A320neo and A321neo aircraft to densify its domestic network and to support its international operations planned for later this year, while the 787-9s are intended for use on medium-haul and long-haul international routes.
The airline has an existing fleet of 13 Airbus A320ceo and 8 A320neo aircraft and has an impending delivery for one A320neo due in September 2018.
Disclosure: Vistara and Boeing are launch partners of CNBC-TV18.com.

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