Hong Kong Aviation Capital reported the lease of three new Airbus 320 aircraft to IndiGo Airlines of India. The leases will start on delivery of the aircraft from Airbus to IndiGo in 2011. In addition, HKAC announced the agreement by IndiGo to extend the leases of four existing A320 aircraft.
The three new A320s will be delivered at manufacturer list prices totaling approximately $200 million, and will be on lease to the airline for a period of six years. HKAC is closing the purchase of the new aircraft with support from significant Chinese banking and financial institutions. Upon delivery of the new aircraft, HKAC will have a total of ten A320s on lease to IndiGo. The transaction expands its existing 68 aircraft portfolio with assets totaling approximately $3 billion.