Jet to lease five A330s as international traffic rises

Written by Nirbhay Kumar | New Delhi | Updated: Sep 21 2010, 07:27am hrs
Jet Airways has decided to lease five additional A330 jets from the US-based Intrepid Aviation Group LLC to serve the rising demand for international travel. The long-haul jets would be taken on long-term operating lease and would be deployed on European and South East Asian routes.

Jet has asked government permission to import five more A330s which would be inducted into the fleet between fourth quarter of 2011 and 2014, official sources told FE. The airline has already negotiated the terms and conditions for leasing additional jets with the American lessor.

The Naresh Goyal-controlled Jet Airways currently has 12 A330s which serve destinations in the Europe, North America and Asean countries. The airline is on fleet and network expansion mode in both domestic and international markets after nearly two years of slowdown. It is in the process of identifying routes having higher chances of making profit in 6-8 months.

Based on current market trends and capacity requirements on international routes over the next five years, the airline finds that there is need for the company to induct 10 additional A330sfive A330-200s and five A330-300s, Jet Airways executive director Saroj Datta is understood to have written to the civil aviation ministry.

The airline had earlier obtained the regulatory approval to take five A330s between 2009 and 2012 but deferred the plan due to weak demand and mounting losses as a result of recession.

An executive of Jet said that additional Airbus aircraft is likely to be taken from an affiliate of Intrepid Aviation for 10-year operating lease. The civil aviation ministry, the nodal government department for airline sector, is expected to consider the airline's fresh proposal in its upcoming meeting of Aircraft Acquisition Committee (AAC).