Tuesday, March 5, 2013

NEWS | IndiGo Plans ECB For Aircraft Financing

IndiGo Plans ECB For Aircraft Financing

Profitable domestic airline operator IndiGo, a notable outlier compared to the current domestic flight operators, is seeking RBI’s approval for a over R4,600 Cr ($849 Mn) loan to purchase aircraft, as stated by Mint.
The RBI application mentions the 14-year termed fund raise through ECB and the use of these to be for "import of capital goods".

This plan follows an earlier news flow which raised the prospects of IndiGo to benefit from the cancellation of Kingfisher Airlines’ international slots.
IndiGo plans to import 16 A320s this year. This forms part of the ordered lot of 280 Airbus A320s, including 150 A320neo, expected to be delivered by 2024. Price of this order stands at about $21 Bn at list prices.
Currently it operates 64 single-class airbus A320s on 38 domestic and international routes.


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