ALBAWABA - Airbus has announced its successful bid to secure the largest aircraft order in aviation history, selling 500 aircraft to Indian airline IndiGo.
Top executives from both companies made the announcement on Monday during the Paris Air Show. The massive deal involves the sale of aircraft from the Airbus A320 family, which is the best-selling single-aisle aircraft series.
With this agreement, IndiGo's order book now reaches nearly 1,000 aircraft.
Peter Elbers, CEO of IndiGo, stated from the signing ceremony platform, "No company has ever placed an order of this magnitude before. This deal highlights the potential of the aviation sector in India and the ambitions of our company."
This agreement surpasses the previous record-breaking deal in February, where Air India Ltd purchased 470 aircraft from both Airbus and Boeing.
Indian airlines have been accumulating aircraft to keep up with the rapidly growing aviation market, which is the fastest-growing primary aviation market in the world. This deal will enhance IndiGo's position in India's bustling skies.
Airbus prepares for a record order of 500 aircraft from IndiGo in India
The world's largest customer of A320neo aircraft
It is worth mentioning that IndiGo is the world's largest customer for A320neo aircraft and has bold expansion plans. The company holds a 61% market share in the Indian aviation market and aims to double its size and scope by the end of the decade, with plans to expand operations in Central Asia.
India's aviation fleet expansion is helping it become a hub, as the government encourages airlines to operate more long-haul flights while also investing $12 billion in airport construction.
After recently surpassing China as the world's most populous country, India offers significant growth opportunities to airlines through a promising group of companies for the first time. In June, Airbus predicted a shift in the aviation gravity towards Asia, led by China and India.
