BOC Aviation, based in Singapore, signed a finance lease transaction with InterGlobe Aviation, the parent company of Indian airline IndiGo, involving four Airbus A320NEO aircraft scheduled for delivery in 2024. Steven Townend, BOC Aviation’s CEO and Managing Director, stated the company’s pleasure in supporting IndiGo’s expansion strategy and assisting in building its fleet of fuel-efficient aircraft.
Riyaz Peermohamed, IndiGo’s Chief Aircraft Acquisition and Financing Officer, expressed satisfaction with the partnership, highlighting that the new aircraft would support the company’s expansion plans and strengthen its position in both domestic and international markets. IndiGo aims to continue providing affordable and hassle-free travel experiences for its customers.
BOC Aviation Announces Closure of Four Finance Leases with IndiGo
Steven Townend, Chief Executive Officer and Managing Director of BOC Aviation expressed satisfaction in closing another four finance leases with IndiGo.
“We continue to work closely with our long-time customer to support its expansion strategy as it builds a fleet of the latest technology fuel-efficient aircraft,” Townend stated in a release. The aircraft, all powered by CFM LEAP-1A engines, are scheduled for delivery in 2024.
IndiGo Extends Partnership with BOC Aviation for Airbus A320NEO Aircraft Lease
Riyaz Peermohamed, Chief Aircraft Acquisition and Financing Officer of IndiGo, announced the extension of their partnership with BOC Aviation through a lease agreement for four Airbus A320NEO aircraft.
Peermohamed stated,
“These aircraft will be instrumental in supporting the company’s expansion plans and strengthening our position in both domestic and international markets,”
He emphasized,
“At IndiGo, we are dedicated to providing our customers with unparalleled travel experiences, and this partnership will allow us to continue delivering affordable, on-time, and hassle-free travel across our extensive 6E network,”
Developments and Challenges of the A320neo Aircraft
The first delivery of the aircraft slipped to early 2016. Lufthansa received the first A320neo on 20 January 2016. As Pratt & Whitney faced ramp-up difficulties, two hundred deliveries were targeted in 2017, but Airbus expected that 30 aircraft would have to be parked awaiting engines. The fourth and latest final assembly line in Hamburg was set to open in July 2017, with 60 A320s expected to be produced monthly from 2019.
By October 2017, Airbus had delivered 90 A320neos and acknowledged that it would not attain the 200 target, even with many deliveries in the fourth quarter. The changes impacted flying qualities, performance, and system integration. They entailed returning the fly-by-wire controls and meeting type certification requirements which have evolved since 1988 and helped decrease the minimum V speeds. The neo is 1.8 t heavier than the ceo, but take-off and landing performance remains the same with a modified rotation law, adjusted wing flap and wing slat angles, and rudder deflection increased by 5° to cope with the higher thrust.
The A320neo is half as loud as an A320 at take-off, with an 85-decibel noise footprint.
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