Business Round-Up
IndiGo cuts $2.6 billion deal with China lessor
October 1st 2014
Indian low-cost carrier (LCC) IndiGo has signed a $2.6 billion deal with China’s Industrial and Commercial Bank of China Ltd. (ICBC) who will finance the Gurgaon based airline’s acquisition of 30 new A320s. IndiGo is India’s largest carrier, with a market share of 32%, and the only airline on the subcontinent that has been continuously profitable since its 2006 launch. Read More »
In 2011, IndiGo ordered 180 A320 jets worth $15.6 billion – the then second largest single order in the commercial aviation industry. Aditya Ghosh (36), the airline’s president, said some of the aircraft will service the Gulf state and south and Southeast Asia, but the majority of them will be for the carrier’s domestic expansion. IndiGo operates a fleet of 80 A320s.
