Indian airline Vistara leases six aircraft to support expansion plans

May 27, 2019: BOC Aviation, Singapore-based aircraft lessor, has announced the placement of four Boeing 737-800 NG aircraft – including two from the managed fleet - and two Airbus A320NEO aircraft with Indian carrier Vistara.

Vistara, one of the fastest growing Indian carriers, is set to receive all the Boeing 737-800 NG aircraft this month, according to BOC Aviation.

The two Airbus A320NEO aircraft will be delivered in the second half of 2019 and will be powered by CFM Leap 1A engines.

“We are excited to support Vistara once again as it builds its profile in the rapidly growing Indian airline sector,” said Robert Martin, managing director and chief executive officer of BOC Aviation.

“Our relationship with Vistara dates back to 2014, when we announced the placement of 20 Airbus A320 family aircraft with the airline. In 2017, BOC Aviation delivered its first Airbus A320NEO aircraft to Vistara and we are pleased to work together on its future fleet requirements.”

Leslie Thng, chief executive officer, Vistara said: “The company has been supportive of our expansion plans since the start of Vistara’s operations in 2015 and we look forward to continued cooperation in future.”

Indian carriers have been in an expansion mode as they acquire aircraft in large numbers in order to grow their network. SpiceJet, major Indian airline, received three Boeing B737-800 NG aircraft from BOC Aviation.

Vistara, is a joint venture between Tata Sons Limited and Singapore Airlines Limited (SIA) with Tata Sons holding the majority stake of 51 percent in the company and SIA holding the remaining 49 percent.