Air India Express and Willis Lease Finance Corporation Collaborate on Engine Sale and Leaseback Agreements
Air India Express (AIX), a subsidiary of Air India, has recently announced definitive engine sale and leaseback agreements with Willis Lease Finance Corporation (WLFC) for 26 CFM56-7B engines installed on 13 of its Boeing 737-800 aircraft. This collaboration follows the 2022 agreement between the two entities, where WLFC signed engine lease agreements for 34 CFM56-5B engines installed on Air India’s Airbus A320 family fleet.
Enhanced Reliability and Cost Savings
The engines will be covered under WLFC’s ConstantThrust® program. This program offers enhanced reliability and significant cost savings compared to traditional Maintenance, Repair, and Overhaul (MRO) shop visits. With the ConstantThrust® program, WLFC assumes the risk of engine maintenance, allowing AIX to focus on its core business operations.
WLFC’s Team in GIFT City, India
The ConstantThrust® programs for both Air India and Air India Express will be managed in part by WLFC’s team located in GIFT City, India. This strategic location allows for efficient and effective collaboration between the two entities, ensuring seamless engine maintenance and support.
Impact on Consumers
The partnership between Air India Express and Willis Lease Finance Corporation could lead to several benefits for consumers. With the CFM56-7B engines under the ConstantThrust® program, AIX is expected to experience improved engine reliability and reduced maintenance costs. These savings could potentially be passed on to consumers in the form of lower airfares or increased investment in fleet modernization and expansion.
Impact on the Aviation Industry
The collaboration between Air India Express and Willis Lease Finance Corporation signifies a growing trend in the aviation industry towards engine lease and maintenance programs. By assuming the risk and cost of engine maintenance, lessors like WLFC can provide significant cost savings and operational benefits to airlines. This trend could lead to increased competition among lessors, driving down costs and improving the overall efficiency of the aviation industry.
Conclusion
The engine sale and leaseback agreements between Air India Express and Willis Lease Finance Corporation mark a strategic collaboration that offers enhanced reliability, cost savings, and operational benefits for both parties. With the CFM56-7B engines under WLFC’s ConstantThrust® program, Air India Express is poised to improve its engine maintenance efficiency and potentially pass on savings to consumers. Furthermore, the trend towards engine lease and maintenance programs is expected to continue shaping the aviation industry, driving down costs and increasing overall efficiency.
- Air India Express signs engine sale and leaseback agreements with Willis Lease Finance Corporation for 26 CFM56-7B engines
- Engines will be covered under WLFC’s ConstantThrust® program for enhanced reliability and cost savings
- WLFC’s team in GIFT City, India will manage the programs for both Air India and Air India Express
- Consumers may benefit from potential lower airfares or increased investment in fleet modernization
- The collaboration represents a growing trend in the aviation industry towards engine lease and maintenance programs
