IndiGo has signed a $2.6 billion deal with Industrial and Commercial Bank of China (ICBC) for the lender to finance more than 30 new aircraft, the company said in a statement on Wednesday.
Under the memorandum of understanding, ICBC will provide IndiGo, India’s largest airline by market share, with financing for the planes through either a sale and lease back or commercial lending deal, the statement quoted IndiGo President Aditya Ghosh as saying.
The announcement comes on the day Chinese President Xi Jinping arrived in India, where the two countries are expected to sign trade and investment deals worth billions of dollars.
