The BOC Aviation A320NEO Jets in question are all equipped with CFM International CFM LEAP-1A engines, and they are set to be delivered to IndiGo throughout the year 2023.
BOC Aviation Limited, a prominent global aircraft operating leasing company, has announced a finance lease transaction involving ten Airbus A320NEO aircraft with InterGlobe Aviation Ltd. (IndiGo), a long-standing customer. The A320NEO aircraft in question are all equipped with CFM International CFM LEAP-1A engines, and they are set to be delivered to IndiGo throughout the year 2023. The lease agreement between BOC Aviation and IndiGo showcases the commitment of both companies to the growth and advancement of the aviation industry, particularly in a market as dynamic and promising as India.
Steven Townend, Deputy Managing Director and Chief Financial Officer, BOC Aviation, 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. This showcases our ability to deploy alternative financing structures, to continue our long-term sustainable growth.”
BOC Aviation boasts a fleet of 652 aircraft that are owned, managed, or on order. As of June 30, 2023, its owned and managed fleet was leased to 91 airlines spanning 42 countries and regions globally. The company is listed on the Hong Kong Stock Exchange and maintains its headquarters in Singapore, with additional offices in Dublin, London, New York, and Tianjin.
Riyaz Peer Mohamed, Chief Aircraft Acquisition and Financing Officer, IndiGo said, “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.”
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IndiGo, considered one of the world’s fastest-growing low-cost carriers, adheres to a straightforward philosophy of offering affordable fares, punctual flights, and a seamless travel experience. With a fleet exceeding 300 aircraft, the airline operates around 1900 daily flights, serving 79 domestic destinations, and plans to expand its international footprint to 32 destinations.
