Low-cost carrier SpiceJet on Wednesday announced a memorandum of understanding (MoU) with the US-based Avenue Capital Group to finance, buy and sell and lease 50 new aircraft.
The MoU set the next steps and conditions on which Avenue, as part of a strategic alliance with SpiceJet, will help keep SpiceJet’s new aircraft portfolio, including sales and leasebacks, and potentially own up to 50 of them. Includes the notion of. Aircraft, ”the airline said in a statement.
In a sale and leaseback model, an airline acquires the aircraft at an attractive price and sells it at a lower price and takes it back for its own use.
SpiceJet CMD Ajay Singh said, “This alliance will ensure uninterrupted inclusion of aircraft in our fleet and will help in better planning for the long term”.
The airline has an agreement with aerospace firm Boeing for a total of 205 aircraft, including a firm order for 155 Boeing 7,000 Max. The airline has a fleet of 100 aircraft, including the grounded Boeing 737 Max 8, 737 NG (Next Generation) and Bombardier Q-400.
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