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Vistara, a joint venture airline between India’s Tata Sons and Singapore Airlines, will return one Boeing 737 plane to lessor GE Capital Aviation Services (GECAS) later this week.
The airline will return the aircraft in order to cut cost as demand for Air travel has been muted.
The aircraft was earlier operated by bankrupt Jet Airways (India) Limited, which was grounded April last year.
Vistara operates a fleet of seven Boeing 737 planes fleet.
The Boeing 737 aircraft is likely to be leased to an airline based out of Taiwan.
Vistara also negotiating with Boeing, Airbus and leasing companies to delay deliveries of some of the planes scheduled to arrive this year.
Vistara currently operates a fleet of 41 aircraft, including seven Boeing 737s, one Boeing 787-9, and 33 Airbus A320 planes.