Indian carrier Jet Airways plans to sell and lease back its aircraft as one of several measures to improve cash flow and profitability. “We are looking at more sale and lease-back options in the current quarter in addition to those done in the previous two quarters. This will result in cash surplus and consequential reduction in the working capital loans, as well as [the] lowering of interest cost going forward,” said CFO Ravishankar Gopalakrishnan during a fiscal second quarter results conference call.

NEW DELHI — Sweden’s Saab will invest $37.5 million in Indian private sector defense shipyard Pipavav. “Finalization of the investment is expected to be made within three months, under the condition it meets the necessary approval of the shareholders meeting of Pipavav Offshore and Defense Engineering Ltd. (Pipavav) and government approvals,” according to Saab. “After the investment, Saab will hold approximately 3.5% of the capital and votes in Pipavav.”

India’s second-largest, low-fare carrier, SpiceJet, is in talks with Airbus and Boeing to purchase aircraft to expand its domestic and international networks. “The plan is at a nascent stage. Discussions are on with both the companies,” an airline spokesperson tells Aviation Week. “We will look at both the options and take a final decision depending on whichever suits us best,” the spokesperson adds. The no-frills carrier plans to deploy 15% of its capacity on international routes over the next three years, up from 6% currently.