<p>After failing to find any lessor for its five Boeing 777s, the debt-laden Air India is now planning an outright sale of these aircraft to raise up to USD 450 million (about Rs 2,500 crore), airline sources said.<br /><br />The state-run airline will soon appoint a consultant to help it find a suitable buyer besides taking the assistance from Boeing on the issue, they said. The move is to trim over Rs 68,000-crore debt, they added.<br /><br />"These are surplus aircraft after the induction of the latest Dreamliners in our fleet which we have decided to dispose of," Air India sources told PTI today.<br /><br />arlier, the carrier had sought to 'sale and lease back' the fuel-guzzling five Boeing 777-200 LR planes, which are of 2007 and 2009 make.<br /><br />However, despite repeated attempts, Air India did not find any taker for them, eventually forcing to put them on the block.<br /><br />"Currently, the price for these aircraft hovers around USD 85-90 million per unit," they said, adding the proceeds from the outright sales would be utilised to phase out loan taken for these aircraft. These planes were part-funded by the US Exim Bank.<br /><br />The airline will soon appoint a consultant to facilitate the sales. In addition "we have also requested Boeing to remark these planes," sources added.<br /><br />In 2005, Air India had placed orders for 68 aircraft with the US aircraft-maker Boeing consisting of 18 B737-800s, 27 Dreamliners and another 23 B777s, apart from 43 from the European plane-maker Airbus.<br /><br />Of the 23 777s, 15 are B777-300 ERs and eight are B777-200-LRs.<br /><br />Air India has already taken delivery of 18 737-800s and eight B777-200 LRs, besides 12 B-777-300 ERs.<br /><br />The airline has also received three Dreamliners out of the 27 on order so far and four more are expected to join its fleet by the fiscal end.<br /><br />The five B777s, which the carrier has now put up for sale, belong to the same order. The eight 777-200 LRs, of which Air India plans to sell five, are 235-seaters against the industry practice of 290-300 seats.</p>.<p>The idea behind this configuration was to operate them on ultra long-haul routes like Chicago, New York, Toronto etc, on premium fares, but that did not materialise.</p>.<p>This forced the airline to deploy them on medium haul sectors such as Hong Kong, Shanghai and London, rendering the aircraft operations economically unviable.<br /><br />The aircraft, known as the Worldliner in the aviation parlance, or the one which can pair any two cities on the extremes, can fetch revenue only when operated on ultra-long routes.<br /><br />In January, Air India had decided to do away with these aircraft by leasing them as soon as it got a firm indication about the delivery of the Dreamliners.<br /><br />The first dry-lease tender was floated on January 2 this year but having failed to get a buyer it re-issued bids several times before finally scrapping the plan and deciding to go for an upright sale. </p>
<p>After failing to find any lessor for its five Boeing 777s, the debt-laden Air India is now planning an outright sale of these aircraft to raise up to USD 450 million (about Rs 2,500 crore), airline sources said.<br /><br />The state-run airline will soon appoint a consultant to help it find a suitable buyer besides taking the assistance from Boeing on the issue, they said. The move is to trim over Rs 68,000-crore debt, they added.<br /><br />"These are surplus aircraft after the induction of the latest Dreamliners in our fleet which we have decided to dispose of," Air India sources told PTI today.<br /><br />arlier, the carrier had sought to 'sale and lease back' the fuel-guzzling five Boeing 777-200 LR planes, which are of 2007 and 2009 make.<br /><br />However, despite repeated attempts, Air India did not find any taker for them, eventually forcing to put them on the block.<br /><br />"Currently, the price for these aircraft hovers around USD 85-90 million per unit," they said, adding the proceeds from the outright sales would be utilised to phase out loan taken for these aircraft. These planes were part-funded by the US Exim Bank.<br /><br />The airline will soon appoint a consultant to facilitate the sales. In addition "we have also requested Boeing to remark these planes," sources added.<br /><br />In 2005, Air India had placed orders for 68 aircraft with the US aircraft-maker Boeing consisting of 18 B737-800s, 27 Dreamliners and another 23 B777s, apart from 43 from the European plane-maker Airbus.<br /><br />Of the 23 777s, 15 are B777-300 ERs and eight are B777-200-LRs.<br /><br />Air India has already taken delivery of 18 737-800s and eight B777-200 LRs, besides 12 B-777-300 ERs.<br /><br />The airline has also received three Dreamliners out of the 27 on order so far and four more are expected to join its fleet by the fiscal end.<br /><br />The five B777s, which the carrier has now put up for sale, belong to the same order. The eight 777-200 LRs, of which Air India plans to sell five, are 235-seaters against the industry practice of 290-300 seats.</p>.<p>The idea behind this configuration was to operate them on ultra long-haul routes like Chicago, New York, Toronto etc, on premium fares, but that did not materialise.</p>.<p>This forced the airline to deploy them on medium haul sectors such as Hong Kong, Shanghai and London, rendering the aircraft operations economically unviable.<br /><br />The aircraft, known as the Worldliner in the aviation parlance, or the one which can pair any two cities on the extremes, can fetch revenue only when operated on ultra-long routes.<br /><br />In January, Air India had decided to do away with these aircraft by leasing them as soon as it got a firm indication about the delivery of the Dreamliners.<br /><br />The first dry-lease tender was floated on January 2 this year but having failed to get a buyer it re-issued bids several times before finally scrapping the plan and deciding to go for an upright sale. </p>