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.
Etihad president and CEO James Hogan confirmed the sale to Arabian Business.
“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.
Read News In Full 05/01/14 Arabian Business.com
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