Air India signs sale and leaseback with Willis Lease for 34 CFM engines

Air India has signed a definitive sale and leaseback agreement with Willis Lease Finance for 34 CFM56-5B engines on its A320 fleet. This move is in sync with Air India’s revamp policy to replace old A320 engines to reduce maintenance costs and optimizing cash flows. Nipun Aggarwal, CCO of Air India, said: This transaction will allow Air India to de-risk itself operationally, improve fleet reliability, reduce cost, and optimise cash flow.” According to Air India, the engines will be covered under Willis Lease’s ConstantThrust, which will deliver significant reliability and cost savings over a traditional MRO (Maintenance, Repair, and Operations)