Singapore, Mar 1 (PTI) BOC Aviation Limited has signed purchase-and-leaseback agreements with InterGlobe Aviation Ltd (IndiGo) for eight new Airbus A320NEO aircraft.

"The addition of these eight A320NEO aircraft demonstrates our confidence in the future growth of the aviation market in India," said Riyaz Peermohamed, Chief Aircraft Acquisition & Financing Officer, IndiGo.

The aircraft will be powered by CFM Leap engines and are scheduled to be delivered in the second half of 2021, the Singapore-based aircraft leasing company said in a release on Monday.

"This incremental capital expenditure also reflects our disciplined investment strategy throughout the cycle, focused on building a portfolio of the latest technology aircraft," said Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation.

He further noted that "we are delighted to partner once again with IndiGo, India's largest passenger airline, as we continue to support our airline customers to finance their aircraft deliveries."

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)