Indian airline Vistara places $3.1B order for Airbus, Boeing jets

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Wed, 11 Jul 2018 - 08:40 GMT

An Air India Airlines Boeing 787 dreamliner takes part in a flying display during the 50th Paris Air Show at the Le Bourget airport near Pari - Reuters

An Air India Airlines Boeing 787 dreamliner takes part in a flying display during the 50th Paris Air Show at the Le Bourget airport near Pari - Reuters

SINGAPORE - 11 July 2018: Indian airline Vistara has placed firm orders for 13 Airbus SE (AIR.PA) A320neos and six Boeing Co (BA.N) 787 jets valued at $3.1 billion at list prices, as it looks to add more domestic flights and launch international routes later this year.

The joint venture between India’s Tata Sons Ltd and Singapore Airlines Ltd (SIAL.SI) said it also had purchase rights over 5 more 787-9s, options over 7 more A320neos and would procure another 37 A320neos from leasing companies.

“India’s position as the world’s fastest growing domestic aviation market and its impressive growth in air passenger traffic that has more than doubled over the last decade makes us confident of our aggressive plans for domestic expansion and international foray,” Vistara CEO Leslie Thng said in a statement on Wednesday.

The order comes a week before the Farnborough Airshow in Britain, where, according to aviation consultancy IBA, global planemakers could reap 900 orders and commitments.

Vistara had been examining the addition of more jets for months amid plans to enter the international market to offset a highly competitive, price-sensitive domestic market.

Reuters last month reported that Vistara had decided to order six Boeing 787s rather than the rival A330neo and that it might expand its fleet of leased A320neos.

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