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MarketScreener Homepage  >  Equities  >  Nyse  >  Boeing Company (The)    BA

BOEING COMPANY (THE)

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Boeing : Vistara leases six aircraft to boost domestic market growth

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05/24/2019 | 03:39pm EDT

NEW DELHI: Full-service carrier Vistara on Friday said it has leased an additional six aircraft from BOC Aviation to accelerate its growth in the domestic market.

As part of the agreement, Vistara has leased four Boeing 737-800 NG aircraft to be delivered in May, 2019 and two Airbus A320neo powered by 'CFM LEAP 1A' engines, scheduled for delivery in the second half of 2019.

"Our focus on serving the domestic market has remained unwavered even as we prepare to become an international airline," Leslie Thng, Chief Executive Officer, Vistara, said in a statement.

"These leased aircraft will be deployed to meet the sudden drop in capacity in the market and to aid convenience of travellers. Our decision to induct a different aircraft type in our fleet is a carefully evaluated one, which is both, economically and commercially viable, and will eventually help us take the Vistara experience wider and deeper across markets in India."

Last year, Vistara had placed its aircraft order of a combination of purchased and leased aircraft totalling 50 from the Airbus A320neo family (including the A321neo) for domestic as well as short and medium-haul international operations, with deliveries scheduled between 2019 and 2023.

Further, the airline has purchased six Boeing 787-9 Dreamliner aircraft that are scheduled to be delivered between 2020 and 2021, and will be used for long-haul international operations.

Additionally, the airline - a joint venture between Tata Sons and Singapore Airlines - said that in order to support the next phase of expansion of its domestic operations, it has recruited nearly 500 former employees of Jet Airways, including pilots, cabin crew, engineers and other staff.

(c) 2019, Express Network Pvt Ltd. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 101 B
EBIT 2019 11 022 M
Net income 2019 9 704 M
Debt 2019 6 346 M
Yield 2019 2,13%
P/E ratio 2019 22,46
P/E ratio 2020 15,44
EV / Sales 2019 2,15x
EV / Sales 2020 1,79x
Capitalization 210 B
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Number of Analysts 26
Average target price 420 $
Spread / Average Target 12%
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Managers
NameTitle
Dennis A. Muilenburg Chairman, President & Chief Executive Officer
Jenette E. Ramos Senior Vice President-Supply Chain & Operations
Gregory D. Smith CFO, EVP-Corporate Development & Strategy
Theodore Colbert Chief Information Officer & SVP-Data Analytics
Gregory L. Hyslop CTO, Senior VP-Engineering, Test & Technology
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