HKAC leases three A320 aircraft to IndiGo

Hong Kong Aviation Capital (HKAC), a leading investor in the global aviation sector, today announced new leases of three new Airbus 320 aircraft to IndiGo Airlines of India. The leases will start on delivery of the aircraft new 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 US$ 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 US$ 3 billion.
HKAC is an Aviation leasing and investment company that includes HNA Group Co., Ltd., China and an affiliate of Bravia Capital, New York as shareholders.
"In the next year IndiGo will add 18 more aircraft over their current base increasing their market share of the Indian market from 11.7% in 2008 to almost 16% today. As a shareholder of HKAC, we are pleased by the announcement of this transaction and look forward to the company completing more transactions in India and globally," Mr. Bharat Bhise, CEO of Bravia Capital Partners said.
14/07/10 PR-USA.NET

To Read the News in full at Source, Click the Headline

Categories: Foreign Jul 2010, Indigo Airlines Jul 2010