Mumbai: InterGlobe Enterprises, which runs the country’s biggest airline by market share under the IndiGo brand, said the term sheet, consisting of provisional orders to buy 250 Airbus aircraft, has expired.
The Gurgaon-based airline, however, added it is in discussion with the aircraft makers to purchase a significant number of aircraft.
“On October 12, 2014, we signed a term sheet with Airbus to enter into a purchase agreement to acquire 250 A320neo aircraft. Although the term sheet has expired, we remain in active discussions concerning the potential acquisition of a significant number of aircraft from the A320neo family,” InterGlobe Enterprises said in a draft red herring prospectus.
“There is no assurance that we will be able to negotiate the additional aircraft purchase from Airbus or that any such purchase would use a structure or contain terms comparable to our 2005 and 2011 orders from Airbus,” it added.
03/07/15 Rhik Kundu/Financial Express
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The Gurgaon-based airline, however, added it is in discussion with the aircraft makers to purchase a significant number of aircraft.
“On October 12, 2014, we signed a term sheet with Airbus to enter into a purchase agreement to acquire 250 A320neo aircraft. Although the term sheet has expired, we remain in active discussions concerning the potential acquisition of a significant number of aircraft from the A320neo family,” InterGlobe Enterprises said in a draft red herring prospectus.
“There is no assurance that we will be able to negotiate the additional aircraft purchase from Airbus or that any such purchase would use a structure or contain terms comparable to our 2005 and 2011 orders from Airbus,” it added.
03/07/15 Rhik Kundu/Financial Express
