Indian startup $6bn order for 100 A320's
Big business from India for Airbus at Paris it seems:
From the BBC:
Airbus wins $6bn order from India
India's skies are filling up with new private airlines
Fledgling Indian budget airline IndiGo has ordered 100 A320 jets from Airbus, the European planemaker said.
Although Airbus did not reveal the agreed price, the catalogue value of the planes is $6bn (£3.29bn).
IndiGo is not yet flying. Airbus said the new airline has "high-quality executives" and was sure to be "a successful new player".
Indian airlines have emerged as big buyers at this year's Paris Air Show placing orders worth roughly $12bn.
India's strong economic growth has boosted the market for internal travel - both business and leisure - and the budget airline business model is catching on rapidly there.
Industry analysts believe the India's aviation market is poised for 20% annual growth as private airlines multiply.
Both Airbus and rival US planemaker Boeing have benefited from big Indian orders at the Paris Air Show.
Boeing won an order from Jet Airways for at least 20 planes with a catalogue value of $2.8bn, made up of 737-800s and 777s.
Kingfisher, another low-cost carrier backed by beer magnate Vijay Mallya, ordered 15 aircraft worth up to $3bn from Airbus.
IndiGo is being backed by travel company InterGlobe Enterprises, and by entrepreneur Rakesh Gangwal, who was president and chief executive of US Airways until 2001.
"IndiGo is the result of extensive analysis and planning by very experienced airline executives and we're convinced it will be a successful new player," said Airbus chief executive Noel Forgeard.