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CDB Aviation Delivers First of Nine A321neos to IndiGo

Posted On: 2019-10-11 09:24:27

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited ("CDB Leasing"), announced today the delivery of the first of a fleet of nine Airbus A321neo aircraft to India's leading airline, IndiGo, as part of a purchase and leaseback transaction. The aircraft also marks Airbus' 1,000th A320neo family aircraft delivery, signifying a historic milestone for its best-selling single aisle fleet.

"We are very pleased to be part of this important delivery, providing support to our partners at IndiGo in advancing their strategic position in the fastest growing aviation market," said Sign Kadouh, CDB Aviation Head of Commercial, Asia Pacific. "The versatility of the A321neos will provide the right capacity for IndiGo's growing fleet, delivering superior performance and economics. We look forward to deepening our relationship and supporting the IndiGo management's vision to be India's leading airline."

Commenting on the occasion, Mr. Ronojoy Dutta, CEO, IndiGo, said, "We are delighted to add another A321neo in our fleet as we continue to expand our domestic and international operations. The A320 family has enhanced the cost and fuel-efficiency in IndiGo's operations and will strengthen this proposition in future, as we aim to build the best air transportation system in the world. I would like to congratulate the Airbus team for delivering their 1000th aircraft. Airbus has been our partner since IndiGo's inception and as we expand, we wish to continue this journey together, achieving more such milestones. I would also like to congratulate CDB Aviation on the delivery of this aircraft and thank them for their continued support to IndiGo."

As IndiGo continues to increase connectivity across its network, the A321neo aircraft, equipped with the Pratt & Whitney PW1133G turbofan engines and configured with a 222-seat layout, are expected to generate lower operating costs, while availing the carrier of the advantages of reduced environmental impact and enhanced passenger experience. CDB Aviation anticipates the remaining eight aircraft to be handed over by the end of January 2020.

Peter Chang, CDB Aviation Chief Executive Officer, commented: "The significant scale of this transaction further demonstrates our steadfast commitment to offering wide-ranging solutions to airlines, providing the ideal fleet options they seek, one aircraft or an entire fleet at a time."

Chang added: "The CDB Aviation team congratulates members of our long-standing partner, Airbus, on reaching a significant milestone in their A320neo program. CDB Aviation's financing solutions are anchored in our ability to offer the latest generation aircraft. We are proud to be at the forefront of industry by building the most modern, fuel-efficient fleet, while advocating to advance technological leadership and sustained innovation drive in efforts to reduce aviation's environmental impacts."

Shares of InterGlobe Aviation Ltd was last trading in BSE at Rs.1786.5 as compared to the previous close of Rs. 1795.8. The total number of shares traded during the day was 18119 in over 1134 trades.

The stock hit an intraday high of Rs. 1813.15 and intraday low of 1779.75. The net turnover during the day was Rs. 32505615.


Source: Equity Bulls

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