Low-cost airline IndiGo has sought the Reserve Bank of India (RBI)’s approval for an $849-million (Rs 4,661-crore) loan to finance the purchase of aircraft, indicating a possible shift in its aircraft acquisition strategy.
In its application to RBI, IndiGo has asked for approval to raise funds through external commercial borrowings. According to the RBI website, the loan would be used for “import of capital goods” and would have a term of 14 years.
IndiGo did not respond to an email seeking comment.
IndiGo operates 64 single-class airbus A320 aircraft on 38 domestic and international routes. The airline has also ordered 280 Airbus A320s, including 150 A320neo, to be delivered by 2024. The planes were ordered in two separate deals, valued at about $21 billion at list prices.
02/03/13 Aneesh Phadnis & Abhijit Lele/Business Standard
