BOC Aviation and IndiGo are no strangers to collaboration. They’ve been working together for a while, and now they’re taking their partnership to the next level. BOC Aviation has announced a finance lease transaction with InterGlobe Aviation (IndiGo) for 10 Airbus A320NEO aircraft. These planes, all powered by CFM LEAP-1A engines, are scheduled for delivery in 2023.
Steven Townend, Deputy Managing Director and Chief Financial Officer of BOC Aviation, expressed his delight at this new deal. He said, “We are delighted to be embarking on another transaction with our long-time customer IndiGo to enable the airline to expand its fleet with the latest technology aircraft.” He also emphasized BOC Aviation’s ability to deploy alternative financing structures to ensure long-term growth.
IndiGo’s Expansion Strategy
This deal isn’t just about adding more planes to IndiGo’s fleet. It’s part of a bigger picture. Riyaz Peer Mohamed, Chief Aircraft Acquisition and Financing Officer at IndiGo, explained the significance of this extended collaboration. He said, “This extended collaboration with BOC Aviation is part of our expansion strategy across domestic and international markets. India is currently among the fastest growing civil aviation markets in the world, and these aircraft will help IndiGo consolidate its position in the region.”
IndiGo is already one of the fastest-growing low-cost carriers globally, operating over 1,900 daily flights with a fleet of more than 300 aircraft. They connect to 79 domestic destinations and are planning to grow their international footprint to 32 destinations.
About BOC Aviation and IndiGo
BOC Aviation is a leading global aircraft operating and leasing company. As of June 30, 2023, they have a fleet of 652 aircraft, owned, managed, and on order. They lease their owned and managed fleet to 91 airlines in 42 countries and regions worldwide. With headquarters in Singapore, they also have offices in Dublin, London, New York, and Tianjin.
IndiGo’s growth is impressive, and this new lease agreement with BOC Aviation will surely contribute to its continued success in both domestic and international markets.
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