IndiGo approves Rs 7,294 cr investment to acquire aircraft
NEW DELHI: IndiGo has approved a capital investment of $820 million (about Rs 7,294 crore) in its wholly owned subsidiary, InterGlobe Aviation Financial Services IFSC Pvt Ltd and the same will be primarily used to enable ownership of aircraft. Apart from providing a buffer from forex losses due to a weakening rupee as lease rentals are dollar denominated, owning planes will further bolster the airline’s balance sheet.
“The Investment will be made through a combination of equity shares and 0.01% non-cumulative optionally convertible redeemable preference shares (OCRPS), in one or more tranches.
