Bangalore: ow cost carrier, IndiGo Airlines has signed a $2.6 billion deal with China-based commercial lender ICBC (Industrial and Commercial Bank of China Ltd) for finance of over 30 new aircraft.
IndiGo is the only profit-making carrier in the scheduled list of Indian carriers. The announcement coincides with Chinese President Xi Jinping’s visit to India where both countries are looking to increase cooperation in areas of business and politics.
According to reports, China is willing to invest almost $100 billion in India to contribute to its development. Jinping is leading a 100-member business delegation.
“Through this memorandum of understanding, ICBC will provide IndiGo financial solutions for the introduction of A320 and the other family of aircraft to the fleet in the form of sale and leaseback or financial lease or commercial lending,” IndiGo said in a statement and added that the deal would be for over 30 aircraft and $2.6 billion. The company said that they already have a relationship with ICBC and this new agreement will help explore cooperation in the longer term.
The low cost carrier, promoted by InterGlobe Enterprises, is also planning on listing the company in the stock exchanges in 2015, it was reported. The decision to expand comes at a time when India has opened its skies for foreign direct investment upto 49 per cent.
17/09/14 New Indian Express
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IndiGo is the only profit-making carrier in the scheduled list of Indian carriers. The announcement coincides with Chinese President Xi Jinping’s visit to India where both countries are looking to increase cooperation in areas of business and politics.
According to reports, China is willing to invest almost $100 billion in India to contribute to its development. Jinping is leading a 100-member business delegation.
“Through this memorandum of understanding, ICBC will provide IndiGo financial solutions for the introduction of A320 and the other family of aircraft to the fleet in the form of sale and leaseback or financial lease or commercial lending,” IndiGo said in a statement and added that the deal would be for over 30 aircraft and $2.6 billion. The company said that they already have a relationship with ICBC and this new agreement will help explore cooperation in the longer term.
The low cost carrier, promoted by InterGlobe Enterprises, is also planning on listing the company in the stock exchanges in 2015, it was reported. The decision to expand comes at a time when India has opened its skies for foreign direct investment upto 49 per cent.
17/09/14 New Indian Express
