IndiGo Secures $43 Million Loan for Expansion
InterGlobe Aviation Ltd, the entity behind IndiGo, approved a $43 million loan for its subsidiary, IndiGo IFSC, to facilitate the acquisition of aircraft. The subsidiary, based in GIFT City, provides leasing services for aircraft and related equipment. The loan agreement will be executed soon.
- Country:
- India
InterGlobe Aviation Ltd, which operates India's largest airline, IndiGo, has approved a $43 million loan for its subsidiary, IndiGo IFSC. The financial decision aims to bolster aircraft acquisitions, expanding the group's operational capacity.
Rooted in GIFT City, IndiGo IFSC serves as a strategic asset for leasing aircraft, engines, and ground support equipment. This approved inter-corporate loan is slated to fulfill the subsidiary's evolving funding demands according to regulatory disclosures.
The loan agreement is expected to be finalized shortly, as optimism in the market spurred a 1% increase in InterGlobe Aviation's share, closing at Rs 4,433.95 on the BSE floor.
(With inputs from agencies.)
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