PARIS (Reuters) - Europe’s Airbus announced the biggest plane deal in history on the opening day of the Paris Airshow on Monday, with an order for 500 narrowbody jets from Indian budget carrier IndiGo (INGL.NS).
The multibillion-dollar deal is the largest ever by number of aircraft, eclipsing Air India’s provisional purchase of 470 jets earlier this year as India’s two largest carriers plan for a sharp expansion in regional travel demand.
“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.