Business

Monday 23 October 2017

Airbus secures record sale

IndiGo, India's biggest airline, firmed up an order to buy as many as 250 Airbus Group SE A320neo single-aisle jets, giving the European planemaker its biggest ever order by number of aircraft.

With the order, Airbus has a backlog for more than 4,100 A320neo planes, the company said yesterday. The contract, coming after an initial commitment signed last year, could be valued at as much as $26.6bn based on list prices, before customary discounts.

IndiGo's move underscores growth plans for the decade-old budget carrier, which has a 38pc share of the local market. The purchase is in line with the ambitious plans of other Asian budget carriers. India and China are among the fastest-growing markets for Airbus and rival Boeing as both forecast Asia to overtake the US as the world's biggest plane market in two decades. (Bloomberg)

Irish Independent

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