BOC Aviation partners with IndiGo for Four Airbus A320NEO Aircraft

Singapore-based aircraft leasing company BOC Aviation and Indian low-cost carrier IndiGo have announced a new partnership for four Airbus A320NEO aircraft. This agreement strengthens their existing collaboration and supports IndiGo's plans for further expansion.

Also Read | Why Is Indigo Co-Founder Reducing Stake? | Stock Tumbles | All You Need To Know

The deal has been signed for four Airbus A320NEO aircraft.

Also Read | Departures at Delhi Airport halted for 15 minutes after Indigo flight missed taxiway

"We are pleased to be closing another four finance leases with IndiGo," said Steven Townend, Chief Executive Officer and Managing Director, BOC Aviation.

"We continue to work closely with our long-time customer to support its expansion strategy as it builds a fleet of the latest technology fuel-efficient aircraft," Townend said in a release.

Also Read | IndiGo Q3 results: Net profit at ₹2,998 crore, revenue rises to ₹19,452 crore

The aircraft are all powered by CFM LEAP-1A engines. All four aircraft are scheduled for delivery in 2024.

Mint earlier reported that IndiGo grew consistently by 22.5% growth in departures over 2022 and 30% growth over 2019 in domestic departures. In terms of passengers, the airline saw 33% more passengers than 2022 and 35% more passengers than 2019, having fully recovered from COVID.

Also Read | Indigo Paints Q3 FY24 Results Live: Profit Rise by 41.88% YoY

"We are pleased to announce that we have extended our partnership with BOC Aviation through a lease agreement for four Airbus A320NEO aircraft," said Riyaz Peermohamed, Chief Aircraft Acquisition and Financing Officer of IndiGo.

Also Read | Inhumane: Anupam Mittal criticizes IndiGo on flight delay, no refund; Airline issues apology

He further said that these aircraft will be instrumental in supporting the company's expansion plans and strengthening our position in both domestic and international markets.

"At IndiGo, we are dedicated to providing our customers with unparalleled travel experiences, and this partnership will allow us to continue delivering affordable, on-time, and hassle-free travel across our extensive 6E network," he said.

(With Inputs from PTI)