LE BOURGET, PARIS- European plane maker Airbus (EPA: AIR) is set to create waves at the Paris Air Show by potentially announcing a groundbreaking agreement with Indian LCC IndiGo (6E) for a massive order of 500 Airbus A320neo family jets, according to sources cited by Bloomberg.
The deal, if finalized, would significantly boost IndiGo’s existing backlog and may be unveiled as early as Monday.
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IndiGo to Order 500 New Airbus Jets
Insiders familiar with the matter have disclosed that the proposed order, which is currently being negotiated behind closed doors, could double IndiGo’s backlog of aircraft.
While the details of the deal are still subject to change. Airbus and IndiGo are reportedly preparing to announce the agreement soon.
In addition to the potential IndiGo deal, Airbus is also said to be in talks to secure a significant order for narrowbody jets from Saudi carrier Flynas Co.
This potential deal, along with the IndiGo agreement, has the potential to be a highlight of the event. However, it’s important to note that negotiations for both transactions are still ongoing.
Excitement Builds for the Paris Air Show
Airbus CEO Guillaume Faury expressed his enthusiasm for the Paris Air Show. He noted that the event will demonstrate the industry’s return to a period of growth and excitement.
Ahead of the show, Airbus has already announced deals for 60 A320 family aircraft and 10 A350s from undisclosed customers. Further, setting a promising pace for potential orders in the coming days.
Flynas aspires to become the leading low-cost airline in the Middle East. It has previously expressed its intention to increase its order volume to 250 aircraft.
With around 50 Airbus A320s currently in operation and approximately 50 pending orders, Flynas’ potential deal with Airbus holds significant importance for both parties.
IndiGo already holds a substantial backlog of around 500 planes from previous agreements. Further, it is reportedly on the verge of finalizing a record-breaking deal with Airbus.
The Indian carrier currently dominates close to 60% of the domestic flying market share. It has been actively expanding its fleet.
Widebody Aircraft Purchase Considerations
Apart from the potential Airbus order, IndiGo is also exploring the purchase of widebody aircraft. Both Airbus and Boeing are competing for a possible order of approximately 25 planes.
While negotiations are ongoing, Boeing’s 787 Dreamliner may have an advantage, although the situation remains fluid.
If the agreement between Airbus and IndiGo comes to fruition, it would surpass Air India (AI)’s recent order of 470 aircraft from both Airbus and Boeing.
This record-breaking order reflects India’s rapidly growing aviation market and the ambitious plans of IndiGo to maintain its dominant position in the industry.
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