IndiGo plans to buy 150 planes over 3 yrs

IndiGo plans to buy 150 planes over 3 yrs

New Delhi: Indian budget carrier IndiGo has received the government’s nod to buy 150 aircraft over the next 2 to 3 years as it looks to fly international routes, a company executive said on Wednesday.

IndiGo will have completed five years of operations in August 2011, which makes it eligible to fly overseas routes.

“We will look at all the manufacturers," Rahul Bhatia, group managing director of parent InterGlobe Enterprises, told reporters. He did not say how much the company aimed to spend on the planes.

India’s expanding aviation sector, which has close to a dozen carriers, are looking to add to their fleet as the booming economy revives the market for air travel.

Boeing, which competes with Airbus to sell planes in India, estimates the country will buy 1,150 commercial jets valued at $130 billion over the next 20 years.

Bhatia said IndiGo had no immediate plans for listing on the stock markets.

IndiGo had hired four banks for an initial public offering to raise about $400 million, two sources with direct knowledge of the deal had said in April.