United Technologies Finance to fund GoAir's A320neo PDPs

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Go Airlines (GoAir) has agreed to fund its pre-delivery payment (PDP) requirements for its 72 A320neo aircraft order with a loan facility provided by United Technologies Finance, according to local reports.

At this year's Singapore air show, the Indian low-cost carrier inked an agreement with United technologies subsidiary Pratt & Whitney to supply the PW1100G-JM engines for its A320neo fleet.

Deliveries are scheduled to start in 2016 and stretch through to 2020.

GoAir currently operates 13 Airbus A320s - all under sale and leaseback agreements with Air Lease, ALAFCO, SMBC Aviation Capital and GECAS, according to Flightglobal's Ascend Online database. It is due to receive one more aircraft this November, while the remaining six are scheduled to arrive in 2013 and 2014.