IndiGo plans to launch turbo prop operations at the end of calendar 2017 and expects to induct up to 20 ATR aircraft by December 2018.

In a statement to the BSE, the airline said it has signed a term sheet with ATR for purchase of 50 ATR 72-600, with the flexibility to reduce the number of aircraft deliveries based on certain terms. A term sheet means that the airline has now identified the aircraft that it plans to buy, in this case the ATR. Now, IndiGo and ATR will firm up issues such as final delivery dates and seating that the airline wants in the aircraft.

This is the first time in its over decade-long history of operations that the airline has decided to shift from operating a single aircraft fleet to becoming a two-aircraft fleet. The airline currently only operates Airbus A-320 aircraft.

Q4 net down 25% at Rs 440 cr

Meanwhile, IndiGo has reported a profit after tax of Rs 1,659.18 crore for the fiscal 2017, with the board of directors recommending a dividend of Rs 34 per share.

For the fourth quarter ended March 2017, the airline reported a profit after tax of 440.3 crore, a decrease of 24.6 per cent compared to the Rs 583.78 crore reported in the same quarter during the previous year.