Private equity firm 777 Partners is currently in talks with Boeing and ATR to order new aircraft, Reuter reports. The firm aims to invest in more aircraft to help them enter new markets to tap into the rapidly expanding air travel sector.
As per the reports, if the talks reach a purchase agreement, the committed aircraft numbers would be in triple digits.
Post pandemic air travel recovery leading to global airlines facing capacity crunch to meet the rising passenger demand led to 777 Partners to make more aircraft available for operators.
Apart from adding new aircraft, the company is also exploring investment options in Asia and South Africa. As per sources, 777 Partners is close to finalizing an investment deal with an unnamed South African carrier.
The talks for potential new aircraft order comes over the existing orders previously made by the 777 Partners. At the 2022 Farnborough International Airshow, 777 Partners made a firm order with Boeing for 66 Boeing 737 MAX aircraft, which included the MAX 8 and the higher capacity MAX 8-200 variants.