India's low-cost airline IndiGo has confirmed it is working on adding widebody aircraft sooner than previously announced, with the aim of tapping into the country's strong travel demand.
IndiGo already owns two Boeing 777s on wet lease from Turkish Airlines to operate the Istanbul route, and has the initial fleet of 30 Airbus A350-900 aircraft in 2027, with a commitment to The company plans to begin receiving its own wide-body aircraft, and stated the following at an earnings conference on January 24th. The company hopes to use long-haul aircraft before making those deliveries.
It will help serve a “vast treasure trove of untapped potential” in international flights, according to CEO Peter Elbers.
“Following the regulatory proposals, we are exploring an interim solution for the early introduction of long-range aircraft through wet leasing,” Elbers said.
“Route and network opportunities are currently under consideration and will be communicated once finalized.”
According to local reports, IndiGo has leased six Boeing 787-9 twin jets from Scandinavian low-cost carrier North Atlantic Airways to fly flights from India to European hubs that could include Amsterdam, London and Paris. The company has reportedly signed a contract to start the project.
North Airlines announced in late November that it had entered into a tentative agreement to wet lease six 787s to a “reputable” international airline in 2025. These six aircraft account for half of the fleet.
Elbers did not specify the source of the leased aircraft, but said: Strong demand.
“In that market, we expect to be able to quickly meet the demands of the long-haul market.”
Pratt & Whitney PW1100G engines, which power the majority of the airline's Airbus narrowbody fleet, will require IndiGo to tap secondary markets in recent months and years to secure production capacity. This is partly due to the suspension of flights for inspection.
Elbers said these groundings are currently on a “downward trajectory” and are expected to peak at around 70 to 75 aircraft in 2024, albeit “slowly, slowly.” '' he added.
IndiGo outperformed plans in the third quarter of its fiscal year due to what the company described as a “significant demand surge” in November-December, as well as lower fuel costs. Net profit was 24.4 billion rupees ($278 million), with sales up 14% to 221 billion rupees, but down 18% year-on-year. IndiGo points out that profits would have improved year-on-year had it not been for the currency impact.
