On March 22, 2017 Apple has come back to its roots with a new 9.7" model simply called iPad 5 (aka iPad 9.7 2017). Technically its not a new model to the iPad lineup, Apple just improved their lower end. The aging iPad Air 2 is now gone (along with the whole Air branding) and in its place is a new model that looks exactly the same.
Featuring same dimensions as iPad Air 1 (9.4 x 0.29 x 6.6 inches / 240 x 7.5 x 169.5 mm), it comes with a 9.7-inch retina screen, Touch ID, 32GB / 128GB storage and the same color choices (silver, gold, space gray). On the inside you get the same A9 chip like in iPhone 6s & a 10-hour battery. The difference from iPad Air 2 isn't in performance, it's in price. Apple has now reduced the cost of entry-level iPad from $399 to $329.