UPDATE – March 20, 2012:
Air India is now saying they intend to keep the 787s they ordered instead of sell them:
“It should be a good plane for Air India. We are not cutting on any orders,” Ajit Singh, India’s aviation minister said on Tuesday.
Air India has been strapped for cash and dealing with debt problems.
I would think it’ll be a good plane Ajit. :)
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Debt-ridden Indian airline Air India is considering selling the 27 Boeing 787 ‘Dreamliners’ it has ordered but not received to raise much needed cash.
One official in the civil aviation ministry (India) says that another reason for selling the Dreamliners aside from raising the much needed capital would be that the new aircraft have had numerous ‘technical problems’.
If the carrier chooses to keep the planes, the plus would be that the 787 is the perfect fit for the medium-haul routes the airline has:
“We are operating medium-haul sectors with long-haul planes or short-haul planes, ultimately making many routes unprofitable for us,” said a senior AI official.
Don’t forget that Air India is negotiating a $1 Billion dollar 'rebate' from Boeing for delaying delivery of its Dreamliners.
At first glance, one might think ‘wow…you haven’t even received the planes and now you want to sell them.’ At second glance, they haven’t received the planes! Boeing has seen delay after delay so Air India is entitled to do what it wants. However, I think a move like this would negate any rebate back to Air India for late delivery…
Air India is now saying they intend to keep the 787s they ordered instead of sell them:
“It should be a good plane for Air India. We are not cutting on any orders,” Ajit Singh, India’s aviation minister said on Tuesday.
Air India has been strapped for cash and dealing with debt problems.
I would think it’ll be a good plane Ajit. :)
————————————————————————-
Debt-ridden Indian airline Air India is considering selling the 27 Boeing 787 ‘Dreamliners’ it has ordered but not received to raise much needed cash.
‘The profits from the sale, if the proposal is cleared, could make AI richer by over Rs 7,200 crore [or $1.45 Billion US], equivalent to a third of its accumulated losses pegged at Rs 20,000 crore. After a delay of over three years, Boeing is expected to deliver seven Dreamliners this year. The move would also help AI to shore up its balance sheet.’Air India originally ordered the airliners in 2005, and was the second airline to place an order with Boeing for the revolutionary plane. But the 787 has been beset by delays and has pushed back deliveries to most customers by as much as 3 years.
One official in the civil aviation ministry (India) says that another reason for selling the Dreamliners aside from raising the much needed capital would be that the new aircraft have had numerous ‘technical problems’.
If the carrier chooses to keep the planes, the plus would be that the 787 is the perfect fit for the medium-haul routes the airline has:
“We are operating medium-haul sectors with long-haul planes or short-haul planes, ultimately making many routes unprofitable for us,” said a senior AI official.
Don’t forget that Air India is negotiating a $1 Billion dollar 'rebate' from Boeing for delaying delivery of its Dreamliners.
At first glance, one might think ‘wow…you haven’t even received the planes and now you want to sell them.’ At second glance, they haven’t received the planes! Boeing has seen delay after delay so Air India is entitled to do what it wants. However, I think a move like this would negate any rebate back to Air India for late delivery…
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