Vistara (Tata SIA Airlines Ltd)., will lease four Boeing 737-800 NG aircraft from the erstwhile Jet Airways fleet. These aircraft will join Vistara in the next week.
Additionally, the airline announced they will lease two Airbus A320neo (A320-251N), which are powered by CFM LEAP 1A engines, during the second half of 2019. We suspect these aircraft are coming from the erstwhile order book of Iceland’s Wow Air which recently suspended operations.
Readers will recall, the Indian Ministry of Civil Aviation required airlines to add aircraft to their fleet in order to receive the valuable airport slots vacated by the collapse of Jet Airways.
Vistara has also recruited about 500 former employees of Jet to augment their operations.
The airline’s announcement is unclear whether the Boeing 737s are on dry or wet lease, though we suspect it is the former.
All the aircraft will be leased with BOC Aviation, the largest aircraft operating leasing company headquartered in Asia. Vistara’s existing fleet is leased with BOC, and much of its future orders of 50 A320neos are also on lease basis with BOC. BOC Aviation was founded in 1993, as Singapore Aircraft Leasing Enterprise Pte. Ltd. (SALE) by Singapore Airlines Limited (one of Vistara’s parents) and Boullioun Aviation Services, Inc. In December 2006, the company was acquired by and, became a wholly owned subsidiary of, the Bank of China, hence the name BOC Aviation.
Vistara flies 850 flights per week, to 24 destinations, with a fleet of 22 Airbus A320ceo and A320neo aircraft.