Vijay Mallya-owned Kingfisher Airlines is in discussions with Nigeria-based Arik Air for leasing out its aircraft to the African air carrier.
"We are in negotiations with Arik Air for leasing out our Airbus aircraft to the airline," a Kingfisher Airlines spokesperson told PTI here today.
Kingfisher plans to lease two of its existing Airbus 330 aircraft to the Nigerian air carrier.
At present, it has five A 330 aircraft in its fleet.
Domestic air carriers, which are increasingly finding themselves cash-strapped and seeking funds to strengthen their operations, are now adopting the sale and lease-back route of aircraft to garner funds.
Another private domestic airline, Jet Airways, has recently tied-up with Bahrain-headquartered, Gulf Air, to lease out four of its Boeing 777 aircraft for a 42-month period, including a six-month dry lease.
Jet Airways is also leasing out two of its A 330-200 aircraft to Oman Air for six-months, beginning May.
Arik Air, functioning since October 2006, is Nigeria's largest air-carrier and has a fleet of 20 aircraft operating over 100 flights on 27 routes.
