BOC Aviation entered into a finance lease transaction involving 10 Airbus A320neo aircraft with InterGlobe Aviation (IndiGo). The aircraft are all powered by CFM LEAP-1A engines. All 10 aircraft are scheduled to deliver this year.

“We are delighted to be embarking on another transaction with our long-time customer IndiGo to enable the airline to expand its fleet with the latest technology aircraft,” Steven Townend, deputy managing director and CFO of BOC Aviation, said. “This showcases our ability to deploy alternative financing structures to continue our long-term, sustainable growth.”

“We are pleased to enhance our partnership with BOC Aviation with the lease agreement for these 10 aircraft. This extended collaboration with BOC Aviation is part of our expansion strategy across domestic and international markets. India is currently among the fastest growing civil aviation markets in the world and these aircraft will help IndiGo consolidate its position in the region,” Riyaz Peer Mohamed, chief aircraft acquisition and financing officer at IndiGo, said.