The French aerospace giant announced yesterday (June 19) that Indian low-cost airline IndiGo has placed an order for 500 A320 aircraft, to be delivered between 2030 and 2035, according to CNN .
The deal sets a “record for the largest single purchase agreement in commercial aviation history,” Airbus said, and brings IndiGo’s total order book for Airbus aircraft to 1,330.
Founded in 2006, IndiGo is India's leading airline by market share. It carried 86 million passengers in the last financial year.
Airlines are keen to capitalise on India’s booming economy and population, which could lead to higher demand for air travel in the future. In February, IndiGo’s rival Air India placed orders for more than 470 planes from Airbus and Boeing.
The International Monetary Fund expects the South Asian nation to outperform all major emerging economies this year, posting 5.9% gross domestic product growth. In April, the United Nations also estimated that India is on track to overtake China as the world’s most populous country by mid-year, with 1.43 billion people.
Pieter Elbers, chief executive of IndiGo, said Monday’s order would help the company “fulfill its mission to continue driving economic growth and social cohesion in India.” Three-quarters of IndiGo’s flights go to domestic destinations.
“The expanding economy and rising incomes continue to add millions of first-time passengers to the booming aviation market,” he asserted.
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