IndiGo likely to set up aircraft leasing unit at Gujarat’s GIFT City

IndiGo’s board on Monday gave its nod to set up an aircraft leasing unit in Gujarat’s GIFT City with an investment of Rs 30 crore over the next three years.

The airline also said it will give corporate guarantees of up to $996 million to secure the payment obligations of this leasing unit.
Last month, Air India had set up its aircraft leasing unit in GIFT City.

IndiGo’s board also approved an order for 10 more A320neo family planes with European aircraft manufacturer Airbus, by amending the 2019 order.