GE Capital Aviation Services (GECAS) along with the ventures it services have agreed a Purchase/Leaseback (PLB) arrangement for 14 LEAP-powered Airbus neo aircraft with IndiGo. The seven A320neo and seven A321neo are scheduled to deliver between the fourth quarter of 2021 and the middle of 2022.
Currently, India’s largest airline (by passengers carried and fleet size), GECAS has supported the fleet needs of IndiGo since it commenced operations in 2006.
“GECAS remains proud to support IndiGo’s exciting growth over the past 15 years, and adding these 14 neos is a true honor,” explains Aashish Sonawala, SVP and Asia-Pacific Regional Manager of GECAS.
“While putting our own capital to work, GECAS’ strategic platforms are providing additional capacity to meet the needs of our global customer relationships,” shares John Bordeaux, GECAS’ Chief Investment Officer, adding “We’re very pleased to lend our extensive expertise and network to identify the best opportunities for our investment partners.”
IndiGo is amongst the fastest growing low-cost carriers in the world. IndiGo has a simple philosophy: offer fares that are low, flights that are on time, offering a courteous, hygienic, and hassle-free travel experience. With its fleet of 280+ aircraft, the airline is operating around 1200 daily flights and connecting 66 domestic destinations and 24 international destinations.
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