IndiGo or­ders 50 tur­bo­props worth US$1.3b

New Straits Times - - Business / World -

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

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