GE Capital Aviation Services (GECAS) has agreed a purchase/leaseback (PLB) arrangement for 14 LEAP-powered Airbus neo aircraft with IndiGo. The deal involves seven A320neo and seven A321neo aircraft which are scheduled to deliver between the fourth quarter of 2021 and mid-2022.
GECAS has supported Indigo since the carrier’s inception in 2006 and it is currently India’s largest carrier by fleet size and passenger numbers. “GECAS remains proud to support IndiGo’s exciting growth over the past 15 years, and adding these 14 neos is a true honor,” explains Aashish Sonawala, SVP and Asia-Pacific Regional Manager of GECAS. “While putting our own capital to work, GECAS’ strategic platforms are providing additional capacity to meet the needs of our global customer relationships,” shares John Bordeaux, GECAS’ Chief Investment Officer, adding “We’re very pleased to lend our extensive expertise and network to identify the best opportunities for our investment partners.”
GE Capital Aviation Services (GECAS) is a world-leading aviation lessor and offering a broad range of financing products and services including operating leases, purchase/leasebacks, capital markets, and airframe parts management. GECAS owns, services or has on order more than 1,600 aircraft and serves over 200 customers in approximately 75 countries from a global network of 15 offices. IndiGo is one of the fastest growing low-cost carriers in the world with a fleet of 280+ aircraft, operating around 1,200 daily flights, and connecting 66 domestic and 24 international destinations.
