"We have entered into memorandum of understanding (MoU) with them for possibly financing up to 30 of our airplanes. So that could be various kinds of financial solutions could be commercial lending, could be selling lease pack, could be something else. The total value could go up to USD 2.6 billion," Aditya Ghosh, President, Indigo said.
As the Chinese president Xi Jinping begins his India visit--- India and china have already got down to business. Indigo today signed a USD 2.6 billion financing deal with the Industrial and Commercial Bank of China. CNBC-TV18's Malvika Jain caught up with Aditya Ghosh, President, Indigo to understand the contours of this deal.
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Below is the verbatim transcript of the interview
Q: Can you take us through this deal?
A: Industrial and Commercial Bank of China (ICBC) is the largest commercial bank in China. We have entered into memorandum of understanding (MoU) with them for possibly financing up to 30 of our airplanes. So that could be various kinds of financial solutions could be commercial lending, could be selling lease pack, could be something else. The total value could go up to USD 2.6 billion.
Q: As far as the aviations sector is concerned today, do you feel that there is a need for not just to focus on travel outside of Asia but also to focus on Asian Countries as travel destinations and some sort of strategy needs to be devised in that sphere?
A: Well we are predominantly an Indian carrier and we predominantly keep looking at India because India is a highly under penetrated aircraft market. A country of billion people less than 400 commercial planes in this country. We still see a huge opportunity in India so that\'s where we will be focusing.
Q: The new safety and security norms that the government has being looking at, do you feel that is satisfactory or new additions need to be made?
A: Safety and security are something that there can never be enough of. We spent an enormous amount of money, effort and technology behind that. So therefore any thing that enhances safety and security would be welcomed. But one must realise this it is airline operators, airport operators, the governments, security agencies all have to come together for that.
Q: The overall balance sheets of aviation companies they continue to be under stress what sort of suggestion or advice you would like to give them if any?
A: Fly Indigo I guess.
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