INDIA: IndiGo Will Not Loose 11 Jets Of Tigerair, Says Indigo CEO

IndiGo owner, InterGlobe Aviation , fell 4 percent intraday on Wednesday as media reports suggested that Tigerair may take back its 11 jets subleased to IndiGo.

The Singapore-based airline company said it will grow its capacity with the returning aircraft subleased to IndiGo.

In October 2014, Tigerair had subleased 12 of its surplus aircraft to IndiGo. Each aircraft was sub leased for three and four years. “With the lease of one of the 12 aircrafts expiring in 2018, only 11 of the aircraft will be returned to the group at the end of their respective sublease periods.

Following their return, seven of the 11 aircraft are expected to re-join the operating fleet, while the remaining four may be progressively re-introduced back to the service network within two years.,” Tigerair had previously stated in a company release.

However, IndiGo CEO Aditya Ghosh told CNBC-TV18 that Tigerair can’t take the aircrafts before end of contracted lease term. He added that the news development is ‘completely false’.