New Indian subsidiary to make mark on market
Airbus and Boeing have received a split firm order of $3.1 billion for 19 jets from an affiliate of Singapore Airlines as it looks to make a big move into the air transport sector.
‘Vistara' is set to purchase 13 A320neo and A321neo jets at US$111 million each.
On top of this it is set to buy six Boeing 787-9 Dreamliners which cost around $282 million each.
Vistara Chief Executive Officer Leslie Thng said: “This order is very important for Vistara because we always felt that international operations will give us a leverage on further improving our financial performance.”
Many key names within the airline market have been investing in India, as with a market of 1.2 billion, it is seen as one of the most lucrative on the planet.
Vistara will also rent 37 new aircraft from leasing companies.
At present, the airline currently has a fleet of 21 single-aisle Airbus planes.
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