India News | InterGlobe Aviation to Extend USD 43 Mln Loan to IFSC Subsidiary

New Delhi, Dec 19 (PTI) InterGlobe Aviation Ltd, parent of the country's largest airline IndiGo, will provide a loan of USD 43 million to its wholly-owned subsidiary IndiGo IFSC for aircraft acquisition.

InterGlobe Aviation Financial Services IFSC or IndiGo IFSC is registered at the GIFT City. It is a aircraft, aircraft engine and ground support equipment lessor.

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The board of InterGlobe Aviation Ltd on Thursday approved the loan of USD 43 million for the subsidiary, according to a regulatory filing.

The inter-corporate loan is for IndiGo IFSC to meet "its funding requirements for acquisition of aircraft", the filing said.

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The agreement for the loan will be executed in due course of time.

Shares of InterGlobe Aviation Ltd rose 1 per cent to close at Rs 4,433.95 apiece on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)