Showing posts with label Indigo Partners. Show all posts
Showing posts with label Indigo Partners. Show all posts

14 November, 2021

Massive Airbus order for Indigo Partners portfolio of airlines - 255 A321neo family aircraft

Indigo Partners, the private equity fund focused on worldwide investments in air transportation and based in Phoenix, Arizona has confirmed a massive order for its airlines from European planemaker Airbus.

Jointly, the airlines will order an additional 255 Airbus A321neo family of aircraft in a special deal that was inked at the Dubai Airshow. With this new commitment,  the total number of aircraft ordered by the Indigo Partners’ airlines will climb to 1,145.

Wizz Air: 102 aircraft (75 A321neo + 27 A321XLR)
Frontier: 91 aircraft (A321neo)
Volaris: 39 aircraft (A321neo)
JetSMART: 23 aircraft (21 A321neo + 2 A321XLR)
In addition to this order, Volaris and JetSMART will upconvert 38 A320neo to A321neo from their existing aircraft backlogs.

“This order reaffirms our portfolio airlines’ commitment to consistent growth through the next decade. The Airbus A321neo and A321XLR have industry-leading efficiency, low unit costs and a substantially reduced carbon footprint relative to prior models. With these aircraft, Wizz, Frontier, Volaris and JetSMART will continue to offer low fares, stimulate the markets they serve and improve their industry-leading sustainability profile,” said Bill Franke, Managing Partner of Indigo Partners.

“We are happy to further expand our relationship with our great Indigo Partners’ airlines Wizz, Frontier, Volaris and JetSMART who have acted fast and decisively over the last few months to position themselves for this landmark order as the effect of the pandemic recedes and the world wants more sustainable flying,” said Christian Scherer, Airbus Chief Commercial Officer and Head of Airbus International.

The A321neo incorporates new generation engines and Sharklets, which together deliver more than 25 percent fuel and CO 2 savings, as well as a 50 percent noise reduction. The A321XLR version provides a further range extension to 4,700nm. This gives the A321XLR a flight time of up to 11 hours, with passengers benefitting throughout the trip from Airbus’ award-winning Airspace interior, which brings the latest cabin technology to the A320 Family.

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11 January, 2019

Indigo to rescue WOW for $75 million

Indigo Partners,  the power behind airlines such as Wizz air and Volaris is coming to the rescue of WOW air after months of uncertainty for the Icelandic budget carrier.

Many routes had been axed, some aircraft sold, staff sacked as the debts mounted for the small carrier, however  Indigo, after tough negotiations will be investing around $75million into WOW. Indigo Partners intends to, and their interests are also aligned to, adequately capitalize WOW through the turn-around as they have done before with other successful aviation businesses. 

The investment will primarily be in the form of a loan with a 10-year maturity and the initial shareholding of Indigo Partners will be 49%. Subject to foreign ownership regulations, Indigo Partners could obtain additional equity should the conversion option be exercised during the period of the loan, WOW's boss Skuli Mogensen explained in a letter to the airlines' other investors. WOW will make payments for and up to $1.5m each year to Indigo for potential advisory services. 

01 December, 2018

Indigo Partners reach agreement on WOW air after Icelandair backs out

Photo WOW
Indigo Partners, the investment group that is lead investors in Tiger Airways, Spirit Airlines, Wizz Air, Frontier Airlines, Volaris Airlines and JetSMART has agreed in principle to invest in the Icelandic carrier WOW air after Icelandair pulled the plug on its deal.

The terms of the transaction have not been disclosed and following successful completion of due diligence, the parties would work to close as soon as practicable. According to the limited details released, WOW's current CEO and owner, Skuli Mogensen, would remain a principal investor in WOW upon completion of the transaction.

WOW air is an ultra-low-cost carrier currently serving 25 destinations across Europe and North America. "The demand for low-cost air service continues to expand rapidly worldwide, and with Indigo as a partner, we hope to take full advantage of this highly attractive market segment," said Mr. Mogensen. "I am excited to work with Indigo and I am convinced it is the best long-term move for our people and passengers."

"Skuli and WOW's management and employees have done a remarkable job in creating a well-regarded, successful ULCC brand," said Bill Franke, Managing Partner of Indigo Partners. "We have a strategic vision for the airline, and look forward to working with its employees and agents to deliver that vision."