New Delhi, Aug 15: State-owned Indian Airlines plans to lease five Airbus A320 planes this year to replace some older jets and add new capacity, its managing director said on Thursday. The lease follows delays in government approval for its plan to buy a mix of 43 Airbus planes at a cost of $2.1 billion as part of its fleet renewal programme.
The plan, approved by the airline's board last March, has been awaiting government approval.

"We will be leasing five planes this year. We have already taken a board (leasing) committee approval but we have to formally go to the board which should endorse the proposal," Sunil Arora told reporters on the sidelines of a news conference.
"We always do a dry lease and a dry lease is always synergetic with the existing fleet," Arora said.
A dry lease refers to the leasing of aircraft without its crew. An airline spokesman said bids for the lease will be invited after the board approval. Bureau Report