Indian carrier, IndiGo, has funded four A320neo aircraft with a sale-leaseback transaction with institutional investors advised by JP Morgan Global Alternative’s Global Transportation Group (GTG).
The jets are being delivered from Airbus in January and February 2024 and will be powered by CFM LEAP-1A26 engines.
“The Indian economy is on a trajectory of growth right now and the country is one of the fastest growing civil aviation markets in the world,” said Riyaz Peermohamed, chief aircraft acquisition and financing officer of IndiGo. “As the industry leader, we are looking to consolidate our position by expanding our network both in domestic and international sectors. The team at IndiGo is pleased to have completed this transaction with J.P. Morgan Global Alternatives.”
These aircraft will join a growing portfolio of commercial aircraft on lease to top-tier airlines advised by JP Morgan Global Alternative’s GTG, which is also active in the global maritime, energy logistics, intermodal, electric vehicle, and rail car sectors.
The aircraft will be managed by Avionix, a Dublin-based aircraft servicer and lessor portfolio company.
“We are delighted to welcome IndiGo, one of the leading low-cost carrier airlines in the world, to our growing portfolio of modern aircraft,” said Andy Dacy, Global Head of Transportation for J.P. Morgan Global Alternatives. “We look forward to developing this relationship with our valued partner in the continued growth of our aviation strategy.”