Amsterdam, Netherlands, 7th December, 2020: SMBC Aero Engine Lease (SAEL) is pleased to announce that the sale and lease back of 3 x CFM LEAP1A spare engines for Vistara – India’s finest full-service carrier and a joint venture of Tata group and Singapore Airlines, has been concluded.
Akinori Kojima, Managing Director and CEO (SAEL) said, “We’re extremely pleased to complete these sale & leaseback transactions with Vistara over the course of 2020. Vistara has grown to become one of the leading international full-service carriers in South Asia and we believe these spare engines will continue to support their A320 NEO / A321 NEO fleet operations. We are delighted to have established our partnership and support their continued growth during the most challenging times for the aviation industry”.
Niyant Maru, Chief Financial Officer, Vistara said, “We are delighted to start the relationship with SMBC Aero Engine Lease with these three spare engines leasing transaction and look forward to strengthening our association in future. At Vistara, we believe that our partners play an equally important role in our growth journey and we welcome SAEL onboard in our growing network of partners.”
This is the first aircraft engine lease transaction for SAEL with Vistara.