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India’s largest carrier by market share, IndiGo, is reportedly nearing a record deal to buy 500 narrow-body A320-family jets from Airbus (OTCPK:EADSF).
The deal could potentially be worth $50B, Reuters reported citing industry sources. The order, if finalized, could eclipse Air India’s provisional purchase of nearly 470 jets in February.
IndiGo is one of Airbus’ (OTCPK:EADSF) largest customers with a total order of 830 Airbus A320-family jets, of which nearly 500 are yet to be delivered. IndiGo is looking at doubling its capacity by the end of the decade and expanding its network in international markets.
Airbus (OTCPK:EADSF) and Boeing (BA) are also competing to sell 25 wide-body jets to IndiGo, but a deal is yet to be finalized.
The companies involved in the matter declined to comment, the report said.
Indian carriers only trail the U.S. in terms of the largest order book, taking up 6% of industry backlog, amid a rebound in travel after COVID.
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Image and article originally from seekingalpha.com. Read the original article here.