BOC aviation supports IndiGo's growth with Airbus aircraft financing

24 Aug 2023 CW Team

Singapore-based BOC Aviation Limited and India's leading airline, IndiGo, have announced a significant partnership as they finalise a finance lease agreement for 10 Airbus A320NEO aircraft. The deal is a strategic move by IndiGo to bolster its fleet for both domestic and international routes. All ten aircraft will be equipped with CFM LEAP-1A engines and are expected to be delivered in the year 2023.

The Deputy Managing Director and CFO of BOC Aviation, Steven Townend, expressed enthusiasm for continuing their long-standing collaboration with IndiGo, emphasising their commitment to deploying diverse financing structures to support sustainable growth. IndiGo's Chief Aircraft Acquisition and Financing Officer, Riyaz Peer Mohamed, also shared his satisfaction with the extended collaboration, highlighting the aircraft lease agreement's role in reinforcing the airline's position within India's rapidly expanding aviation market.

BOC Aviation, renowned as a global aircraft operating lessor, operates a comprehensive fleet of 652 aircraft. This fleet serves 91 airlines across 42 countries and regions, demonstrating their widespread influence. On the other hand, IndiGo stands as one of the world's fastest-growing low-cost carriers, managing over 300 aircraft. The airline operates nearly 1,900 daily flights that connect 79 domestic destinations, with upcoming plans to expand its services to 32 international destinations.

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