New Delhi, Sep 22 (IANS) Air India has signed a definitive sale and lease back agreement with Willis Lease Finance Corporation for 34 CFM56-5B engines installed on its Airbus A320 family fleet.

Under the sale side of the transaction, Willis Lease will purchase from Air India 34 engines powering 13 Airbus A321 aircraft and 4 Airbus A320 aircraft. Through ConstantThrust, Willis Lease will provide replacement and standby spare engines, allowing Air India to avoid potentially costly and unpredictable shop visits on engines powering a transitioning aircraft fleet. Willis Lease will also have an in-country team to co-ordinate and manage the entire programme and all logistics and transportation involved.  Headquartered in Florida, USA, Willis Lease is a leading global aviation finance company, specialising in the lease, finance and management of aircraft, spare commercial aircraft engines and auxiliary power units. ConstantThrust leverages those capabilities and Willis Lease's spare parts, engine and aircraft technical management services, as well as its aircraft engine maintenance, repair and overhaul (MRO) services, to deliver programmatic support to airlines and lessors worldwide.