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India’s domestic airlines IndiGo inked a $2.6 bn aircraft finance deal with which of the following banks recently?
- a)Bank of Japan
- b)ICBC
- c)Bank of America
- d)Deutsche Bundesbank
Correct answer is option 'B'. Can you explain this answer?
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India’s domestic airlines IndiGo inked a $2.6 bn aircraft finance dea...
IndiGo Air, after signing an MoU with Industrial and Commercial Bank of China-ICBC for $2.6 billion funding, has inked an agreement for 250 Airbus NEO aircrafts
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India’s domestic airlines IndiGo inked a $2.6 bn aircraft finance dea...
IndiGo's Aircraft Finance Deal with ICBC
IndiGo, one of India's leading domestic airlines, recently signed a $2.6 billion aircraft finance deal with Industrial and Commercial Bank of China (ICBC). The deal marks the largest foreign currency loan ever secured by an Indian airline.
Details of the Deal:
- The deal involves ICBC providing IndiGo with a loan of $2.6 billion to finance the purchase of aircraft and engines.
- The loan has a tenor of 12 years and is denominated in US dollars.
- The interest rate on the loan is not disclosed.
- IndiGo plans to use the funds to acquire 49 aircraft, including 24 ATR 72-600s and 25 A320neos.
Impact of the Deal:
- The deal will help IndiGo expand its fleet and strengthen its position in the Indian aviation market.
- It will also help the airline reduce its dependence on leasing aircraft.
- The deal is significant for India as it marks the largest foreign currency loan ever secured by an Indian airline.
- The deal also highlights the growing economic ties between India and China.
Conclusion:
The $2.6 billion aircraft finance deal between IndiGo and ICBC is a significant development for both the airline and the Indian aviation industry. It will help IndiGo expand its fleet and strengthen its market position, while also reducing its dependence on leasing aircraft. The deal also highlights the growing economic ties between India and China, and underscores the importance of collaboration and partnership in driving growth and development in the region.
IndiGo, one of India's leading domestic airlines, recently signed a $2.6 billion aircraft finance deal with Industrial and Commercial Bank of China (ICBC). The deal marks the largest foreign currency loan ever secured by an Indian airline.
Details of the Deal:
- The deal involves ICBC providing IndiGo with a loan of $2.6 billion to finance the purchase of aircraft and engines.
- The loan has a tenor of 12 years and is denominated in US dollars.
- The interest rate on the loan is not disclosed.
- IndiGo plans to use the funds to acquire 49 aircraft, including 24 ATR 72-600s and 25 A320neos.
Impact of the Deal:
- The deal will help IndiGo expand its fleet and strengthen its position in the Indian aviation market.
- It will also help the airline reduce its dependence on leasing aircraft.
- The deal is significant for India as it marks the largest foreign currency loan ever secured by an Indian airline.
- The deal also highlights the growing economic ties between India and China.
Conclusion:
The $2.6 billion aircraft finance deal between IndiGo and ICBC is a significant development for both the airline and the Indian aviation industry. It will help IndiGo expand its fleet and strengthen its market position, while also reducing its dependence on leasing aircraft. The deal also highlights the growing economic ties between India and China, and underscores the importance of collaboration and partnership in driving growth and development in the region.
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India’s domestic airlines IndiGo inked a $2.6 bn aircraft finance deal with which of the following banks recently?a)Bank of Japanb)ICBCc)Bank of Americad)Deutsche BundesbankCorrect answer is option 'B'. Can you explain this answer?
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