Air India and Xxxxxx Lease Sign ConstantThrust Agreement for Engine Sale & Leaseback Sample Clauses

Air India and Xxxxxx Lease Sign ConstantThrust Agreement for Engine Sale & Leaseback. Air India announced that it has signed a definitive sale and lease back agreement with Nas- daq-listed Xxxxxx Lease Finance Corporation for 34 CFM56-5B engines installed on its Airbus A320 family fleet. ● According to the company statement, the engines will be covered under Xxxxxx Xxxxx’s Constant- Thrust, which will deliver significant reliability and cost savings over a traditional MRO (Mainte- xxxxx, Repair and Operations) shop visit programme. ● The company said in a statement, under the sale side of the transaction, Xxxxxx Xxxxx will pur- chase 34 engines from Air India, powering 13 Airbus A321 aircraft and four Airbus A320 aircraft. ● Through the programme, Xxxxxx Xxxxx will provide replacement and standby spare engines, al- lowing the airline to avoid potentially costly and unpredictable shop visits on engines powering a transitioning aircraft fleet. Xxxxx Xxxxxxxx, CCO Air India said, “this transaction will allow Air India to derisk itself operationally, improve fleet reliability, reduce cost, and optimise cash flow.”
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