Air India is seeking proposals for the sale-and-leaseback of six Boeing 787-8s and one 777-300ER that were delivered between November 2016 and March 2018.
The carrier states in tender documents that it intends to lease back the aircraft for 12 years with an option for a three-year extension, and that funds raised through the sale will repay bridging loans.
The 787s on offer bear MSNs 36294 through 36299, which have fixed reserve prices from $105 million to $123 million. All six aircraft are powered by General Electric GEnx-1B engines.
The GE90-115-powered 777 is MSN 36322 and has a reserve price of $157 million.
The transaction will also be supported by a government guarantee for 12 months of lease payments, which will renew automatically on a rolling basis.
No maintenance reserves will be taken, and Air India will assume responsibility for all maintenance during the term of the lease. The engines are all covered by OnPoint maintenance packages.
Offers are due at Air India’s finance department by 10 December.
Source: Cirium Dashboard