Five years after it created history by becoming the first start-up low-cost carrier (LCC) globally to place an order for 100 planes with a combine list price of $6.5 billion (Rs 30,000 crore), IndiGo on Wednesday sought the government's nod to acquire 150 more aircraft.
In his application for the in-principle approval, airline president Aditya Ghosh has said that the 100 planes will join the airline by 2015 and that they need the nod for fleet expansion in the 2015-25 decade.
The aviation ministry had in August 2005 allowed IndiGo to import the 100 A-320s, of which 30 are with the airline currently — 25 operational and five on short lease. The balance 70 will join by 2015. Echoing both Airbus and Boeing's requirement projections, Ghosh has said that India will require 1,000 new planes over the next two decades.
"We are looking at placing future orders beyond 2015.... IndiGo requests the ministry of civil aviation for in-principle approval for acquiring and inducting an additional 150 aircraft prior to 2025," the application says. The privately held and unlisted airline, which began operations in August 2006, is looking at raising anywhere from Rs 1,500-2,000 crore through an IPO.
IndiGo, which made a profit of Rs 82 crore in 2008-09, a figure that is expected to rise almost four times for 2009-10, has said that it is yet to decide on composition of the 150 more planes it wants to order for future deliveries.
It is going to begin talks with both Boeing and Airbus once the approval comes. The ministry is going to consider the application soon. The industry says IndiGo is essentially betting on the improving economic situation globally. Once air travel picks up and there's again a mad scramble to get planes.
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