IndiGo signs term sheet deal with ATR for 50 aircraft

New Delhi May 9 (IANS) Budget passenger carrier IndiGo on Tuesday said it has signed a term sheet with turbo-prop manufacturer ATR for the purchase of 50 aircraft.

According to the company it has entered into a term sheet agreement for the purchase of 50 ATR 72-600 aircraft with certain flexibilities on the number of deliveries.

A term sheet is a non-binding agreement which sets forth the basic terms and conditions under which an investment shall be made.

This term sheet is subject to reaching a mutually satisfactory final purchase agreement with ATR and the engine manufacturer the company said in a statement.

--IANS
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