BOC Aviation Limited (“BOC Aviation” or the “Company”) is pleased to announce that it has signed purchase-and-leaseback agreements with InterGlobe Aviation Ltd. (“IndiGo”) for eight new Airbus A320NEO aircraft. The aircraft will be powered by CFM Leap engines and are scheduled to be delivered in the second half of 2021.

Mr. Riyaz Peermohamed, Chief Aircraft Acquisition & Financing Officer, IndiGo, said: “We are pleased to further strengthen our existing relationship with BOC Aviation. The addition of these eight A320NEO aircraft demonstrates our confidence in the future growth of the aviation market in India.”

Mr. Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation, said: “We are delighted to partner once again with IndiGo, India’s largest passenger airline, as we continue to support our airline customers to finance their aircraft deliveries.”

“This incremental capital expenditure also reflects our disciplined investment strategy throughout the cycle, focused on building a portfolio of latest technology aircraft,” added Mr. Martin.