IndiGo inks $2.6 bn aircraft finance deal with ICBC

September 17, 2014 04:21 pm | Updated November 16, 2021 07:33 pm IST - MUMBAI:

Aditya Ghosh (right), President of IndiGo, shakes hands with Mark Jiang, Managing Director, Head of Aviation, ICBC of China, during India-China business meeting and signing ceremony in New Delhi on Wednesday. Photo: PTI

Aditya Ghosh (right), President of IndiGo, shakes hands with Mark Jiang, Managing Director, Head of Aviation, ICBC of China, during India-China business meeting and signing ceremony in New Delhi on Wednesday. Photo: PTI

Low-cost airline IndiGo has signed a $2.6-billion aircraft financing deal with Industrial and Commercial Bank of China (ICBC), the largest commercial bank of China, the day Chinese President Xi Jinping arrived in India to strengthen bilateral relations between the two countries.

Through this deal, ICBC’s arm ICBC Financial Leasing Company Ltd. 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 lease back or financial lease or commercial lending.

“The number of aircraft will be over, 30 and the value of the deal will reach $2.6 billion,” IndiGo said in a release.

“We see this as an affirmation of IndiGo’s consistent operational and financial performance,” the release added.

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