BOC Aviation has sealed a finance lease transaction involving four new Airbus A320neo aircraft with major Indian low-cost carrier IndiGo.
These new aircraft will be powered by CFM LEAP-1A engines and are scheduled for delivery in 2024.
Paving the Way for Expansion
Steven Townend, Chief Executive Officer and Managing Director of BOC Aviation, expressed his satisfaction with the deal, highlighting the company’s commitment to supporting IndiGo’s expansion strategy.
“We are pleased to be closing another four finance leases with IndiGo. We continue to work closely with our long-time customer to support its expansion strategy as it builds a fleet of latest technology fuel-efficient aircraft,” said Townend.
“This is our first transaction in the year of the dragon, and it sets the tone for the year as we continue growing our fleet by investing in latest generation aircraft and partnering with high quality customers.”
IndiGo’s Perspective
Riyaz Peermohamed, Chief Aircraft Acquisition and Financing Officer of IndiGo, echoed the sentiment of collaboration and growth.
He emphasized the instrumental role that the four Airbus A320neo aircraft will play in supporting IndiGo’s current expansion plans.
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“We are pleased to announce that we have extended our partnership with BOC Aviation through a lease agreement for four Airbus A320neo aircraft. These aircraft will be instrumental in supporting our expansion plans and strengthening our position in both domestic and international markets.”
“At IndiGo, we are dedicated to providing our customers with unparalleled travel experiences, and this partnership will allow us to continue delivering affordable, on-time, and hassle-free travel across our extensive 6E network.”
Current Fleet Issues
The announcement of the latest IndiGo fleet acquisition involving four Airbus A320 family aircraft powered by the CFM LEAP-1 engines follows the recent news that the carrier is considering the damp lease of five Qatar Airways Boeing 737 MAX aircraft to supplement its fleet across the summer peak season.
The move to the Boeing narrowbody aircraft, albeit under short-term lease terms, marks a major divergence from the carrier’s stable of Airbus aircraft.
The ongoing supply and maintenance issues associated with the Pratt & Whitney PW1100 engines has dogged the carrier’s A320neo fleet, which has come at a time where the airline is enacting an aggressive network expansion programme.
The stand-in Boeing 737 MAX aircraft, together with this new complement of four Airbus A320neo aircraft sees the carrier seeking to navigate its way out of potential operational limitations as the summer peak travel season draws near.
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