IndiGo leases two more Boeing 787-9; totaling six |

Delhi-based low-cost airline IndiGo has signed up with Norse Atlantic Airways for a damp lease of two additional Boeing 787-9 aircraft. The latest agreement will see the number of Boeing 787-9 aircraft under the two's partnership reach six, and the latest two aircraft are expected to start operations by early next year. “The initial term of the lease is six months, extendable up to 18 months, and is subject to regulatory approvals,” the airline said in a statement. IndiGo plans to use these aircraft to serve long-haul routes from and to India. Currently, one Boeing 787-9 operates daily between Delhi and Bangkok IndiGo has one Boeing 787-9 from Norse, which started operating a daily flight from Delhi to Bangkok. The service launch from March 1 this year also saw IndiGo launch its Stretch product, a hybrid business class cabin, on the Delhi-Bangkok route, its first international route on which this class of service is available. IndiGo is rapidly expanding its Stretch in India. It was announced in April of this year that Stretch would be available in Bengaluru-Mumbai. Currently, Stretch is available on flights from Delhi to Bengaluru, Mumbai, Hyderabad, and Chennai. Plans for Amsterdam and Manchester from July While the airline has not announced as yet when more Boeing 787-9 will join its fleet, it is expected that it will be soon. The airline will require an aircraft of the Boeing 787-9 variety of aircraft for which it has already signed up with Norse Atlantic to do non-stop flights from India to Amsterdam and Manchester. The airline had announced earlier that it would start these flights in July this year. [caption id="attachment_91142" align="alignright" width="329"] Pieter Elbers CEO IndiGo and Bjørn Tore Larsen CEO and founder Norse Atlantic Airways[/caption] Terms of agreement between Norse and IndiGo were never made public While the terms of the agreement between Norse and IndiGo have not been made public, interestingly, the Norse website shows a statement of November 22, 2024 which states that the Company entered a detailed letter of intent (the "LOI") with a reputable international airline for wet lease agreements ("wet lease") for six aircraft, subject to final contracts, mutual corporate approvals and regulatory approvals. If the “reputable international airline for wet lease agreements” for six aircraft is IndiGo, then the initial contract term could be further extended, subject to regulatory approval, to cover a longer-term period, with an estimated contract value of $ 462 million over that extended term. “Pursuant to the LOI, and provided final agreements are executed based on the terms therein, two aircraft are expected to be deployed in February 2025, with an additional four aircraft expected in September 2025. Norse will be entitled to payment for 350 block hours per aircraft each month, with additional payments possible if utilization exceeds 350 hours per month,” the statement adds.

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