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Air India signs deal to replace 34 old engines
Tata Group-owned Air India signed an agreement with Florida-based Willis Lease Finance to sell 34 old engines and lease back their fresh replacement in order to reduce maintenance costs and avoid unpredictable upkeep visits.
Under “Power By The Hour”, a certain amount is paid to the engine maker for each hour the aircraft flies, and this amount is used for future maintenance requirements.
According to the agreement signed between Air India and Willis, the lessor will purchase the 34 engines from the airline and it will provide “replacement and standby spare engines, allowing Air India to avoid potentially costly and unpredictable shop visits on engines powering a transitioning aircraft fleet”.
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