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IndiGo and BOC Aviation Limited have entered into a finance lease transaction for ten Airbus A320NEO aircraft.
The aircraft will be powered by CFM LEAP-1A engines and are scheduled for delivery in 2023.
IndiGo has an orderbook of close to 970 aircraft.
Also Read | Minimal impact on IndiGo fleet due to Pratt and Whitney engine anomalies : DGCA
Steven Townend, Deputy Managing Director and Chief Financial Officer of BOC Aviation, expressed satisfaction with the deal, highlighting the company’s ability to use alternative financing structures for sustainable growth. He mentioned that this transaction builds upon the partnership with IndiGo, enabling the airline to expand its fleet with modern technology aircraft.
Riyaz Peer Mohamed, Chief Aircraft Acquisition and Financing Officer at IndiGo, also expressed contentment with the partnership. He stated that the lease agreement for the ten aircraft aligns with their expansion strategy in both domestic and international markets. He emphasized the significance of these aircraft in solidifying IndiGo’s position in the rapidly growing Indian civil aviation market.
Also Read | IndiGo’s profits soar to a massive ₹3,000 crore
The collaboration between BOC Aviation and IndiGo reflects their joint efforts to adapt to industry trends and support the airline’s growth plans. As India’s aviation sector continues to evolve, the lease agreement is expected to have a positive impact on both companies’ operations and the region’s aviation landscape.
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