Shares of InterGlobe Aviation, the parent of IndiGo, are likely to be in focus on Tuesday after the airline signed a Memorandum of Understanding (MoU) with CFM International for an order of more than 1,000 LEAP-1A engines to power 510 Airbus A320neo Family aircraft. The company said the agreement is the largest single order ever placed for LEAP engines and also a record for CFM International.
The MoU goes beyond engine supply and includes CFM International's support in setting up IndiGo's upcoming engine maintenance, repair and overhaul (MRO) facility. It also covers a long-term material services agreement, including the supply of spare parts, to support the airline's expanding fleet with improved reliability, predictable maintenance costs and operational support.
