Friday, August 22, 2014

IndiGo to take 12 planes on lease from Tigerair

New Delhi: Airlines in India are sprucing up their arsenal to take on the soon-to-intensify competition in the domestic sky with the entry of new carriers.

IndiGo, India's largest airline in terms of domestic carriage, is taking on lease two planes every month from Singapore-based Tigerair from October to next March — which means adding 12 new planes to its current fleet of 79 by the end of this fiscal.

While IndiGo refused to comment, sources say the LCC is eying to have as many slots as possible at busy airports next summer. The fleet is being expanded at a time when the budget airline is expected to launch its IPO, which means it will get funds for expansion. The airline has now become eligible for FDI too as its promoter's FDI holding is being converted to NRI holding, freeing up the 49% space that can be held by foreign airlines or FIIs.
22/08/14 Saurabh Sinha/Times of India
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