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UAE's Etihad buys five planes from Air India
January 5, 2014, 11:17 am
The airline paid about $350m for the 777-200LRs

UAE national carrier Etihad Airways has bought five second-hand aircraft from Air India to help it meet demand while it awaits the arrival of new planes.

The airline paid about $350m for the 777-200LRs and will take on existing loan payments, an Air India official told The Hindu newspaper in India.

Air India, the national carrier, had paid $115m-120m for each aircraft in 2007 but they were losing the airline money, the official said.

They were due to be delivered sometime between January 15 and April.

“We will... take delivery of five Boeing 777-200LR aircraft from India, to bridge our growth requirements until the arrival of our next wave of new long-haul aircraft beyond 2020,” Hogan wrote in a piece for the Arabian Business magazine.

“Etihad Airways is an airline on the move, and an airline which is growing to meet changing traffic flows between established markets and emerging regions including India, Africa, China, Southeast Asia and the Middle East.”

Etihad, which celebrated its tenth anniversary last year, also is due to take delivery of 20 new aircraft this year, including its first Airbus A380 superjumbos and Boeing 787-9 Dreamliners.

The airline already has announced eight new destinations to be launched this year.

Late last year Indian authorities approved Etihad’s purchase of 24 percent of Jet Airways – the country’s first investment by a foreign carrier in the aviation sector.

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