InterGlobe Aviation to extend USD 43 mln loan to IFSC subsidiary

IndiGo's parent company is set to provide a substantial loan to its subsidiary. The loan amounts to USD 43 million. This funding will enable IndiGo IFSC to acquire new aircraft. IndiGo IFSC is an aircraft lessor located at GIFT City. The loan a...

By PTI | Updated: Dec 19, 2024, 09.44 PM IST

InterGlobe Aviation Ltd, parent of the country's largest airline IndiGo, will provide a loan of USD 43 million to its wholly-owned subsidiary IndiGo IFSC for aircraft acquisition. InterGlobe Aviation Financial Services IFSC or IndiGo IFSC is registered at the GIFT City. It is a aircraft, aircraft engine and ground support equipment lessor.

The board of InterGlobe Aviation Ltd on Thursday approved the loan of USD 43 million for the subsidiary, according to a regulatory filing.

The inter-corporate loan is for IndiGo IFSC to meet "its funding requirements for acquisition of aircraft", the filing said.

The agreement for the loan will be executed in due course of time.

Shares of InterGlobe Aviation Ltd rose 1 per cent to close at Rs 4,433.95 apiece on the BSE.

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