BOC Aviation, IndiGo sign finance deal for 10 A320neo aircraft

BOC Aviation has signed a finance lease transaction involving 10 Airbus A320neo aircraft with InterGlobe Aviation (IndiGo). The aircraft are powered by CFM LEAP-1A engines, and all 10 aircraft are scheduled for delivery in 2023, says a release from BOC.

“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,” says 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.”

Riyaz Peer Mohamed, Chief Aircraft Acquisition and Financing Officer, IndiGo adds: “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."

BOC Aviation is a leading global aircraft operating leasing company with a fleet of 652 aircraft owned, managed and on order. IndiGo, with its fleet of over 300 aircraft, operates about 1,900 daily flights connecting 79 domestic destinations and will increase its footprint to 32 international destinations soon, the release added.