Air India tenders for 787 sale & leaseback

Air India has invited bids for the sale and leaseback of five of its B787-8s. These aircraft were delivered to Air India by Boeing between August 26th, 2013 and January 28th, 2014, and carry a reserve price of $116 million per aircraft. Air India is expected to close the bid by July 14th, and will immediately lease back the aircraft from the lessors under an operating lease for 12 years, while retaining an option to extend the lease period. The airline has ordered 27 B787s, and has taken delivery of 14 to-date. It has already sold and leased seven of