InterGlobe Aviation creates a subsidiary for financing aviation assets

4 Sep 2023 , 02:53 PM

InterGlobe Aviation, the parent company of IndiGo, the largest airline in the nation, announced on Monday that the formation of a wholly-owned subsidiary (WOS) with an investment of up to Rs 30 crore in one or more tranches has been approved by the board of directors.

According to a release, the corporation has created the unit for financing aviation assets.

In order to safeguard the WOS’s payment commitments, the Board additionally authorized the issuing of corporate guarantees in the amount of up to $996 million, or Rs 8,235.15 crore.

In other news, media sources claim that IndiGo has updated its on-board catering service, Eats. It continued all of its domestic and international flights now provide the menu.

InterGlobe Aviation has also given the go-ahead to order 10 more A320 NEO planes from Airbus. These 10 aircraft will be included in the initial 2019 purchase for 300 aircraft.

At 1:10 pm on the BSE, IndiGo’s stock price was almost 0.60 percent higher at Rs 2,455 per share. IndiGo has a market value of Rs 94,411 crore.

For feedback and suggestions, write to us at [e-mail]