BOC Aviation on Monday said that it has signed a purchase and leaseback agreement with IndiGo for eight A320neo aircraft. The aircraft will be powered by CFM Leap engines and are scheduled to be delivered in the second half of 2021.

“The addition of these eight A320 neo aircraft demonstrates our confidence in the future growth of the aviation market in India," Mr Riyaz Peermohamed, Chief Aircraft Acquisition & Financing Officer, IndiGo said.

“This incremental capital expenditure also reflects our disciplined investment strategy throughout the cycle, focused on building a portfolio of latest technology aircraft,” Mr Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation said.

IndiGo, the largest carrier of India, has a fleet of 284 aircraft and operates over 1100 daily flights and connects 60 domestic destinations and 6 international destinations.

Singapore-based BOC Aviation is a global aircraft operating leasing company with a fleet of 553 aircraft owned, managed and on order. Its owned and managed fleet was leased to 87 airlines worldwide in 39 countries and regions as at 31 December 2020.

(Edited by : Abhishek Jha)