New Delhi, India - Indian low-cost Vistara Airlines has entered into a lease agreement for six narrow-body aircraft from BOC Aviation to support its growth in the domestic market.
As part of the agreement, Vistara will receive four Boeing 737-800 and two Airbus A320neo. The four Boeing 737-800 will be delivered to the airline in May 2019 and two Airbus A320neo in the second half of 2019.
“Our focus on serving the domestic market has remained unwavered even as we prepare to become an international airline. These leased aircraft will be deployed to meet the sudden drop in capacity in the market and to add convenience of travelers. Our decision to induct a different aircraft type in our fleet is a carefully evaluated one, which is both, economically and commercially viable, and will eventually help us take the Vistara experience wider and deeper across markets in India,” said Vistara's CEO Leslie Thng.
Vistara’s relationship with BOC Aviation dates back to 2014, when the airline announced to lease its first 20 Airbus A320 family aircraft.
Last year, Vistara placed an order of 50 Airbus A320neo family aircraft (including the A321neo) for both its domestic and international operations. The deliveries of 50 A320neo are scheduled between 2019 and 2023.
The Indian carrier has also ordered six Boeing 787-9 for its long-haul routes. The Dreamliners are scheduled to be delivered between 2020 and 2021.
Founded in 2013, Vistara has recorded a rapid growth since then and was awarded as the best airline of India by Skytrax and Trip Advisor on several occasions.
The airline flies to 24 destinations over 850 flights a week.
Vistara began operations in 2015 as a joint venture of Indian conglomerate TATA Sons and Singapore Airlines. TATA Sons is holding the majority stake in the company with 51 percent.