IndiGo has committed $820 million (₹7,294 crore) to purchase aircraft as a part of its strategy to diversify funding options and grow share of owned fleet.

In a stock exchange notification on Friday, the airline said it will invest $820 million in its wholly owned subsidiary – InterGlobe Aviation Financial Services IFSC Private Ltd.

The investment will be made through a combination of equity shares and 0.01 per cent non-cumulative optionally convertible redeemable preference shares in one or more tranches.

The funds raised by IndiGo IFSC shall be primarily deployed towards acquisition of aviation assets, thereby enabling ownership of aircraft, the airline said.

The investment announced today is in line with the airline’s plan to increase the share of owned and finance leased planes to

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