ICBC loans $2.6B to lease 30 aircraft to India's IndiGo

ICBC loans $2.6B to lease 30 aircraft to India's IndiGo On September 17, 2014, during a meeting of multiple Chinese and Indian businesses in New Delhi, India's air company IndiGo Airlines and China's Industrial and Commercial Bank (ICBC) signed a MoU where in the ICBC will finance the leasing of over 30 Airbus A320s for the Indian airline.

The deal is for 2.6 billion USD and will provide financing for the planes through either a sale and leaseback, financial lease or commercial lending, Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.