{"id":18484,"date":"2023-06-05T15:36:04","date_gmt":"2023-06-05T19:36:04","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/airbus-nears-500-jet-order-from-indias-indigo-sources\/"},"modified":"2023-06-05T15:36:04","modified_gmt":"2023-06-05T19:36:04","slug":"airbus-nears-500-jet-order-from-indias-indigo-sources","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18484","title":{"rendered":"Airbus nears 500-jet order from India’s IndiGo -sources"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: An IndiGo Airlines A320 aircraft is parked on the tarmac at Bengaluru International Airport in Bangalore March 7, 2012. REUTERS\/Vivek Prakash\/File Photo<\/span>
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By Tim Hepher, Aditi Shah and Joanna Plucinska<\/p>\n

ISTANBUL (Reuters) – Airbus is closing towards a potentially record deal to sell 500 narrow-body A320-family jets to India’s largest carrier IndiGo, industry sources said on Sunday.<\/p>\n

The European planemaker has emerged as front-runner for an order eclipsing Air India’s historic provisional purchase of 470 jets in February, the sources said on the sidelines of an airline industry meeting in Istanbul.<\/p>\n

Such a deal would be worth some $50 billion at the most recently published Airbus list prices, but would typically be worth less than half this after widespread airline industry discounts for bulk deals, according to aircraft analysts.<\/p>\n

Airbus and Boeing (NYSE:) are also still competing in separate talks to sell 25 A330neo or Boeing 787 wide-body jets to the same airline, the industry sources said.<\/p>\n

IndiGo Chief Executive Pieter Elbers, attending the annual meeting of the International Air Transport Association in Istanbul, declined to comment on commercial matters.<\/p>\n

Airbus and Boeing also declined to comment.<\/p>\n

Reuters first reported in March that IndiGo, which has a 56% share of the domestic Indian market, was in talks with both Airbus and Boeing for the order, which if confirmed would be the largest by a single airline ranked by the number of units.<\/p>\n

IndiGo is already one of Airbus’s largest customers and has so far ordered a total of 830 Airbus A320-family jets of which nearly 500 are still to be delivered.<\/p>\n

Airbus and Boeing have been racking up billions of dollars of new orders stretching beyond 2030 as airlines lock in supplies ahead of looming shortages.<\/p>\n

Turkish Airlines had taken the spotlight before the IATA meeting with a surprise announcement that it could order 600 jets, but delegates said there were few signs of an immediate deal.<\/p>\n

TRAVEL REBOUND<\/p>\n

Indian carriers now have the second-largest order book, with over 6% share of the industry backlog, behind only the United States, according to a June 1 report by Barclays <\/span><\/span> (LON:). <\/p>\n

But some analysts have expressed concern that airlines could be over-ordering jets in pursuit of the same passengers.<\/p>\n

Lufthansa Group CEO Carsten Spohr told reporters on Sunday there was globally more supply than demand, however.<\/p>\n

The drive by IndiGo comes as the world’s third-largest aviation market is seeing a strong rebound in travel post-COVID, with passenger numbers surging despite high fares. <\/p>\n

IndiGo aims to double its capacity by the end of the decade and expand its network, especially in international markets.<\/p>\n

The airline has a codeshare partnership with seven carriers including Turkish Airlines, American Airlines (NASDAQ:) and KLM. <\/p>\n

The alliance with Turkish Airlines has seen IndiGo make a major push into Europe, a favourite holiday destination among Indians, with the budget carrier now offering flights to 33 European airports. <\/p>\n

In a departure from its single-aisle strategy, IndiGo earlier this year began international operations to Istanbul with a Boeing 777, its first wide-body aircraft, taken from codeshare partner Turkish Airlines, which provides the pilots.<\/p>\n

Taking on the two widebodies is a stop-gap arrangement for IndiGo which needs the capacity until it takes delivery of the longer-range Airbus A321XLR planes in 2025-ish timeframe, Elbers told Reuters in an interview in March. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: An IndiGo Airlines A320 aircraft is parked on the tarmac at Bengaluru International Airport in Bangalore March 7, 2012. REUTERS\/Vivek Prakash\/File Photo By Tim Hepher, Aditi Shah and Joanna Plucinska ISTANBUL (Reuters) – Airbus is closing towards a potentially record deal to sell 500 narrow-body A320-family jets to India’s largest carrier […]<\/p>\n","protected":false},"author":1,"featured_media":18485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-18484","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nAirbus nears 500-jet order from India's IndiGo -sources | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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