Indian low-cost airline IndiGo has now received the first of five new Airbus A320neo aircraft from the lessor High Ridge Aviation.
The successful delivery of its first new aircraft, the A320-251N (MSN 11613), to IndiGo took place on August 4 in the picturesque city of Toulouse, France.
A new era begins
The delivery of the A320neo aircraft to IndiGo marks the initiation of a five-aircraft operating lease transaction between High Ridge Aviation and IndiGo.
While the first aircraft has now been received, aviation enthusiasts and industry insiders can eagerly anticipate the arrival of the remaining four A320neo aircraft, all set to grace the skies in 2023.
Greg Conlon, the CEO of High Ridge Aviation, was clearly pleased to discuss this achievement: “This delivery marks a remarkable moment in High Ridge Aviation’s journey.”
“Our gratitude extends to the IndiGo team for their collaboration, and we are truly honored to enrich our portfolio with the inclusion of such an esteemed operator.”
Riyaz Peermohamed, Chief Aircraft Acquisition and Financing Officer of IndiGo, echoed this sentiment, emphasizing the significance of this partnership in the dynamic landscape of India’s aviation industry.
“The current trajectory of the Indian economy has set the stage for growth, and our nation’s civil aviation market stands out as one of the world’s fastest-growing,” he said.
As leaders in the industry, we are dedicated to solidifying our position by expanding our network, both domestically and internationally. Completing this transaction with High Ridge Aviation is a moment of pride for the IndiGo team.”
Driving growth amidst opportunity
IndiGo’s decision to bolster its fleet with the A320neo aircraft aligns seamlessly with the carrier’s commitment to capitalizing on India’s burgeoning economic growth.
The choice of these advanced aircraft underscores IndiGo’s strategic approach to fulfilling the rising demand for air travel in the region.
With a focus on enhancing connectivity and offering top-tier service to passengers, IndiGo is poised to further elevate its position as a leading player in the aviation sector.
Growth of India’s aviation sector
The Indian aviation sector has been growing rapidly in recent years, and is now the third-largest in the world. In 2022, the sector carried over 158 million passengers, and is expected to reach 520 million by 2037. This growth is being driven by a number of factors, including:
Economic growth: India’s economy is growing rapidly, and this is leading to an increase in disposable income among Indians. This is making air travel more affordable for more people.
Increasing middle class: The Indian middle class is growing rapidly, and this is creating a large pool of potential air travelers.
Deregulation: The Indian government has deregulated the aviation sector in recent years, which has made it easier for new airlines to enter the market. This has increased competition and led to lower fares.
Infrastructure development: The Indian government is investing heavily in infrastructure development, including airports and air traffic control systems. This is making it easier and more efficient to fly in India.
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