Key Points:

  • InterGlobe Aviation places an order for an additional 10 Airbus A320neo aircraft.

  • A new wholly-owned subsidiary will be established in Gujarat to finance aviation assets, with a proposed investment of up to $3.6 million.

  • The latest order is an extension of the previous agreement for 300 Airbus jets made in 2019.

InterGlobe Announces Plans After September Board Meeting

NEW DELHI — InterGlobe Aviation, the parent entity of India's leading budget airline IndiGo, has revealed plans to bolster its fleet with an additional 10 Airbus A320neo aircraft. This decision came to light post the company’s board meeting on September 4.

Building on its relationship with Airbus, IndiGo's recent aircraft order follows the company's historical agreement from October 2019, where 300 Airbus jets were earmarked. Further strengthening this alliance, IndiGo had also announced a monumental order for 500 A320neo-family jets during the prestigious Paris air show earlier this year in June.

Beyond aircraft acquisition, InterGlobe is venturing into financing aviation assets. They have greenlit the creation of a new subsidiary located in Gujarat. The establishment aims to commit an investment of approximately $3.6 million (Rs300 million). The outlined vision suggests the project reaching fruition within a span of three years.

While the order for the new jets has been declared, InterGlobe indicated that the official signing is still pending. Specifics regarding delivery timelines and engine choices for the aircraft remain undisclosed at this juncture.

Highlighting the scale of partnership, by the end of July this year, IndiGo had placed orders for a whopping 1,330 Airbus aircraft, with 362 units already incorporated into its operations.