BOC Aviation Limited has entered into a finance lease transaction involving ten Airbus A320neo aircraft with InterGlobe Aviation Ltd. (“IndiGo”). The aircraft are all powered by CFM LEAP-1A engines. All ten aircraft are scheduled for delivery in 2023.
“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,” said Steven Townend, Deputy Managing Director and Chief Financial Officer, BOC Aviation. “This showcases our ability to deploy alternative financing structures to continue our long-term sustainable growth.”
“We are pleased to enhance our partnership with BOC Aviation with the lease agreement for these 10 aircraft. 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,” said Riyaz Peer Mohamed, Chief Aircraft Acquisition and Financing Officer, IndiGo.
Indigo’s A320neo Record-Setting Order
Airbus announced that IndiGo signed a Memorandum of Understanding (MoU) for 250 firm A320neo Family aircraft. The agreement set a record, with the potential of becoming Airbus’ single largest order by number of aircraft.
The A320neo “new engine option” includes the latest generation engines and large Sharklet wing-tip devices, which reduce fuel use by 15-20%. Airbus estimates green benefits of 5,000 tonnes fewer CO2 emissions per aircraft annually.
The A320 aircraft family has earned nearly 11,000 orders to date. Airbus has delivered over 6,200 A320 aircraft to 400 customers and operators worldwide.
Inside Indigo’s A320neo
Indigo currently has 20 A320neo aircraft in its fleet, each arranged to seat 180 passengers in an all-economy class cabin.
There are three lavatories onboard, one at the front and the other two at the back of the aircraft. Passengers get more room to stretch on rows 1, 12, and 13, which are extra legroom seats. The emergency exits are located next to rows 12 and 13. Indigo offers its customers an option of advance seat reservations. Passengers can choose a window seat, aisle seat, or a seat with extra legroom. Passengers can also book two seats for a single with the airline’s Add 6E Double Seat option.
About BOC Aviation
BOC Aviation is a top aircraft leasing company with a fleet of 652 aircraft. They lease their planes to 91 airlines in 42 countries. BOC Aviation is listed on the Hong Kong Stock Exchange (HKEx code: 2588) and is based in Singapore with offices in Dublin, London, New York, and Tianjin. For more information, visit their website at www.bocaviation.com.
About IndiGo
IndiGo is a fast-growing, low-cost airline that offers affordable fares, on-time flights, and a friendly travel experience. With a fleet of over 300 aircraft, IndiGo operates about 1900 daily flights, connecting 79 domestic destinations and expanding to 32 international destinations. Learn more at http://www.goindigo.in/.