Airbus has just landed the biggest-ever aircraft order in the history of commercial aviation on the opening day of the Paris Air Show when Indian low-cost carrier IndiGo placed an order for 500 of its A320 planes, for delivery between 2030 and 2035, reported CNN.
Airbus has just landed the biggest-ever aircraft order in the history of commercial aviation on the opening day of the Paris Air Show when Indian low-cost carrier IndiGo placed an order for 500 of its A320 planes, for delivery between 2030 and 2035, reported CNN.
The multibillion-dollar deal eclipses Air India’s combined purchase of 470 jets earlier this year as India’s two largest carriers plan for a sharp expansion in regional travel demand.
The French aerospace giant Airbus said the deal sets “the record for the biggest single purchase agreement in the history of commercial aviation,” and brings the total number of Airbus (EADSY) planes IndiGo has ordered to 1,330.
Founded in 2006, IndiGo is India’s top airline by market share, according to its website. It flew 86 million customers in the last financial year.
This massive order for A320neo-family jets follows months of negotiations. Industry sources said in advance of the Le Bourget event that a 500-plane deal was close.
“This is just the beginning, there’s more going forward. With the growth of India (and) the growth of the Indian aviation market ... this is the right time for us to place this order,” IndiGo chief executive Pieter Elbers told a news conference.
The aircraft will be delivered between 2030 and 2035.
Efforts by Indian carriers to keep pace with the world’s fastest-growing aviation market, serving the largest population, have sent industry records tumbling even though manufacturers are struggling to meet output goals.
Indian carriers now have the second-largest order book, with an over six per cent share of the industry backlog, behind only the US, according to a June 1 report by Barclays.