InterGlobe Aviation, the parent company of IndiGo, announced on Friday that it has approved a plan to deploy up to $450 million to support the acquisition of aircraft, engines and other aviation assets, as the airline looks to increase ownership of key parts of its expanding fleet.The decision was cleared by the company's Board of Directors at a meeting held on Friday, according to a filing released alongside its quarterly results.As part of the move, InterGlobe Aviation will partially prepay finance lease obligations worth up to $450 million to InterGlobe Aviation Financial Services IFSC Pvt Ltd, its wholly owned subsidiary.The subsidiary will use the funds to acquire aviation assets, including aircraft, aircraft engines and spare parts. The move is expected to help the IndiGo group own a larger share of its fleet-related assets instead of relying solely on leased equipment.
IndiGo parent approves $450 million plan to acquire aircraft, engines
IndiGo's parent company, InterGlobe Aviation, has approved a significant plan. Up to $450 million will be deployed to acquire aircraft, engines, and other aviation assets. This move aims to increase the airline's ownership of its expanding fleet. The funds will be channeled through a wholly owned subsidiary.
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