India’s largest airline IndiGo has secured the service of 10 Airbus A320neo aircraft from BOC Aviation.
The airline’s insatiable appetite for new planes seems to be showing no signs of slowing down after the finance lease transaction was announced on August 23, 2023.
All ten Airbus A320neo aircraft are scheduled for delivery in 2023 and are all powered by CFM LEAP-1A engines.
“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,” Steven Townend, deputy managing director and CFO of BOC Aviation, said. “This showcases our ability to deploy alternative financing structures, to continue our long-term sustainable growth.”
Only one week ago there was speculation building that IndiGo is also poised to place an order for 25 new wide-body aircraft, with Boeing reportedly the frontrunner.
According to Reuters, sources familiar with the development have indicated that IndiGo is interested in purchasing Boeing 787 Dreamliner family aircraft.
It is clear though that through the new announcement with BOC Aviation that IndiGo is keen to boost the number of flights it operates as soon as possible.
“We are pleased to enhance our partnership with BOC Aviation with the lease agreement for these 10 aircraft,” said Riyaz Peer Mohamed, chief aircraft acquisition and financing officer at IndiGo, 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 currently has over 300 aircraft and is operating well about 1,900 daily flights and connecting 79 domestic destinations and will soon further grow its footprint to 32 international destinations.
In June 2023, at a press conference at the Paris Air Show, IndiGo announced it had secured a substantial deal with Airbus for 500 aircraft.
When Airbus published its orders and deliveries for June 2023, it was revealed that the IndiGo order consisted of 125 A320neo and 375 A321neo aircraft.