IndiGo orders 50 turboprops worth US$1.3b
MUMBAI: Indian discount airline IndiGo placed an outline order for 50 turboprop planes worth US$1.3 billion (RM5.6 billion) at list prices as the subcontinent’s biggest carrier expands into regional flights connecting smaller population centres.
IndiGo had signed a term sheet to acquire the ATR 72-600 aircraft, with the first planes due to enter operation by the end of this year, said the company on Tuesday as it reported a 25 per cent decline in quarterly earnings.
Shares dropped the most in more than two weeks.
IndiGo revealed the purchase after posting net income of 4.4 billion rupees (RM296 million) for the fourth quarter through March 31.
The carrier, a unit of InterGlobe Aviation Ltd, attributed the decline to an increase in fuel prices. Bloomberg