According to BOC Aviation, all 10 of the CFM LEAP-1A-powered aircraft are expected to be delivered in 2023.
Officials announced on Wednesday that the largest airline in India, IndiGo, and BOC Aviation Limited, a Singapore-based company, have engaged into a finance leasing agreement involving 10 Airbus A320NEO aircraft.
According to BOC Aviation, all 10 of the CFM LEAP-1A-powered aircraft are expected to be delivered in 2023.
According to Steven Townend, Deputy Managing Director and Chief Financial Officer of BOC Aviation, “We are thrilled to be starting another transaction with our long-time customer IndiGo, to enable the airline to expand its fleet with the latest technology aircraft.”
This demonstrates our capacity to use various finance models to sustain our long-term growth, he said.
With the leasing deal for these 10 aircraft, we are happy to strengthen our relationship with BOC Aviation, said Riyaz Peer Mohamed, Chief Aircraft Acquisition and Financing Officer, IndiGo.
Collaboration between IndiGo and BOC Aviation
As part of its expansion strategy in both domestic and foreign markets, IndiGo has been working with BOC Aviation for a longer period of time.
These aircraft will help IndiGo strengthen its position in the area as India is currently one of the fastest-growing civil aviation markets in the world, he said.
With a fleet of 652 aircraft that are owned, operated, or on order, BOC Aviation is a top worldwide aircraft operating leasing firm.
As of June 30, 2023, 91 airlines in 42 nations and regions had leases on its owned and managed fleet.
One of the low-cost airlines in the world with the quickest growth is InterGlobe Aviation Ltd. (IndiGo).
With a fleet of more than 300 aircraft, the airline currently connects 79 domestic destinations with roughly 1,900 daily flights, and it will shortly expand to 32 foreign locations.
