Topline
Airbus, a European aerospace company, announced a deal Monday to sell 500 single-aisle planes to IndiGo, India’s largest airline, in what is now the biggest plane deal in history.
Airbus, a European aerospace company, announced it will sell 500 single-aisle planes to IndiGo, … [+]
Key Facts
The agreement will make IndiGo the world’s biggest A320 Family—the Airbus aircraft line that is one of the best-selling in the world—customer, bringing the total number of Airbus aircraft IndiGo has ordered to 1,330.
Neither of the two companies released financial details of the sale when announcing it at the Paris Air Show, though Reuters reported it’s a “multibillion-dollar deal” and the aircraft will be received between 2030 and 2035.
IndiGo CEO Pieter Elbers said in a press release the order will enable the company to fulfill “its mission to continue to boost economic growth, social cohesion and mobility in India,” which just recently surpassed China as the most populous country in the world.
Crucial Quote
“This landmark order … is democratising affordable air travel for millions of people in the world’s fastest growing aviation market,” said Christian Scherer, chief commercial officer and head of international at Airbus.
Key Background
The 500-plane deal surpassed Air India’s purchase of 470 jets in February to become the largest commercial aviation deal in history as Indian airlines work to expand rapidly to meet the growing population demands. In March, India’s government announced it would be pouring $12 billion in the next two years into airports to help airport infrastructure keep up with “the world’s fastest-growing aviation market,” Bloomberg reported. The influx of money is designed to increase the number of airports to 220 by 2025; currently, there are 148.
Further Reading
Airbus wins historic 500-plane IndiGo order (Reuters)
Airbus Wins Record 500 Jet Order From India’s Biggest Airline (Bloomberg)
Source: https://www.forbes.com/sites/mollybohannon/2023/06/19/airbus-wins-largest-commercial-aircraft-order-in-history-with-indigos-500-plane-order/