The country's largest carrier, Indigo, has signed a $328 million financing deal with Citi to purchase eight narrow-body planes manufactured by Airbus. This transaction marks the world's first aviation financing deal insured by the Belgian export credit agency (ECA) Credendo, and it is also the first ECA-backed aircraft financing structured through the GIFT IFSC.

Financing Details

The financing will enable Indigo to procure:

  • Six A321s
  • Two A320s

Citi acted as the sole mandated arranger, ECA coordinator, and sole lender for this deal, which is backed by Credendo's credit insurance. The transaction was executed through Indigo's subsidiary, InterGlobe Aviation Financial Services IFSC, providing a competitive and diversified source of long-term funding for the carrier's fleet and network growth.

Statements from Executives

K Balasubramanian, Citi India's chief executive, stated:

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"By combining Citi's cross-border aviation and ECA financing expertise with Credendo's credit insurance and IndiGo's GIFT IFSC platform, we have delivered a first-of-its-kind solution that opens a vital new pathway connecting Indian aviation with the deep pool of ECA-backed international liquidity and supports the next phase of India's aviation growth."