Jet Airways inks $238mn aircraft lease agreement

Mumbai: Jet Airways will charter 13 new ATR 72-500 aircraft, primarily used for regional operations, for $238 million. At the International Paris Air Show, Jet Airways concluded the pact with the Ireland-based leasing company AIR (Aircraft International Renting), a subsidiary of TAT Leasing. The 13 aircraft will have the latest technological innovations in passenger comfort, communications and navigation aid tools. Deliveries will start in 2007 and continue through 2010. Jet Airways currently operates a fleet of 8 ATR 72-500s. In the near future, its growing ATR fleet will enable the airline to set up new routes and increase some frequencies across the Indian subcontinent. The ATR aircraft represent the optimal solution for increasing demands of domestic flights in India. The aircraft has really proven itself as the standard for regional airline transport in India as is evidenced by the strong commercial success of ATR in the country.