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According to a PTI report, Kingfisher Airlines is in discussions with Nigeria’s Arik Air for leasing out its aircraft to the African air-carrier. “We are in negotiations with Arik Air for leasing out our Airbus aircraft to the airline,” said a Kingfisher Airlines spokesperson. Kingfisher Airlines plans to lease two of its existing Airbus-330 aircraft to the Nigerian air-carrier. Presently, it has five A-330 aircraft in its fleet. Arik Air functional since October 2006, is Nigeria‘s largest air-carrier and presently has 20 aircraft in its fleet and operates over 100 flights on 27 routes.
Domestic air-carriers, which are increasingly finding themselves cash-strapped and seeking funds to strengthen their operations, are now adopting the sale and lease-back route of aircraft to garner funds. Even Jet Airways, has recently tied-up with Bahrain-headquartered, Gulf Air, to lease out four of its Boeing 777 aircraft for a 42-month period, including a six-month dry lease. Jet Airways is also leasing out two of its A-330-200 aircraft to Oman Air for six-months, beginning May this year.
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