Vistara signs preliminary pact with Airbus and Boeing for 19 aircraft

Vistara has signed preliminary agreements with Airbus and Boeing for purchasing 19 narrow- and wide-bodied aircraft valued at $3.1 billion. The letter of intent signed with Airbus comprises an order for 13 A320 and A321neo aircraft, while the agreement signed with Boeing comprises an order for six 787-9 Dreamliners. Besides the firm orders, the agreements also include the option of purchasing and leasing aircraft in the next half-decade. As per the provisions, Vistara will purchase seven more aircraft and will lease another 37 new A320neo aircraft from Airbus for which the signing of the lease agreement is in the final stages. In addition, it has purchase rights for four additional aircraft from the 787 Dreamliner family of Boeing. The delivery of the Dreamliner and Airbus aircraft is due to start in 2020, while that of 8-10 leased Airbus planes will begin in 2019. The deliveries will continue till 2023. In the meantime, Vistara is expected to start its medium- to long-haul international operations. The airline currently has a fleet of 21 aircraft and by the end of 2018 another aircraft will be added taking the count to 22.