BOC Aviation Enters Lease Deal with IndiGo for Four Airbus A320NEO Aircraft

14 Feb 2024 , 02:52 PM

Singapore-based BOC Aviation Ltd has engaged in a finance lease transaction with InterGlobe Aviation Ltd (IndiGo) for four Airbus A320NEO aircraft.

Steven Townend, CEO and Managing Director of BOC Aviation, expressed satisfaction in closing another four finance leases with IndiGo, highlighting collaboration for fleet modernization.

All four aircraft are equipped with CFM LEAP-1A engines and are scheduled for delivery in 2024.

Riyaz Peermohamed, Chief Aircraft Acquisition and Financing Officer at IndiGo, announced the partnership extension with BOC Aviation, emphasizing the aircraft’s importance for expansion and market position reinforcement.

IndiGo, headquartered in Gurgaon, Haryana, India, is the largest airline in the country by passengers carried and fleet size, holding a 61.8% domestic market share as of November 2023.

The airline operates over 2,000 daily flights to 119 destinations, with a fleet of over 340 aircraft and a primary hub at Indira Gandhi International Airport, Delhi.

Founded in 2006 by Rahul Bhatia and Rakesh Gangwal, IndiGo went public in November 2015 and was ranked fifteenth most punctual airline globally in 2022 by OAG.

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