Skip to content 
Search

Latest Stories

Airbus announces record 500-plane deal with IndiGo

The deal eclipses Air India’s provisional purchase of 470 Airbus and Boeing jets earlier this year

Airbus announces record 500-plane deal with IndiGo

AIRBUS announced a record 500-plane deal with Indian airline IndiGo on day one of the Paris Airshow on Monday (19), as strong demand for jets and missiles vied for attention with the industry's supply chain problems.

The multibillion-dollar deal for single-aisle planes - the largest ever by number of aircraft - eclipsed Air India's provisional purchase of 470 Airbus and Boeing jets earlier this year.

IndiGo's deal highlights the growing importance of India, the world's fastest-growing aviation market, serving the largest population, to planemakers.

"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.

With a list price of $55 billion - although the closely-held actual sale prices are usually lower - the deal is the largest ever civil aviation order and a "historic" step for both companies, Elbers said.

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.

Indian carriers now have the second-largest order book, with an over six per cent share of the industry backlog, behind only the United States, according to a June 1 report by Barclays.

But some analysts have expressed concern that airlines could be over-ordering jets in pursuit of the same passengers.

After signing the IndiGo deal, Airbus CEO Guillaume Faury said it was premature to start thinking about narrowbody jet production rates higher than the planned 75 per month.

IndiGo, which accounts for nearly 60 per cent of the Indian domestic market, was widely expected to keep Airbus as its supplier of single-aisle jets to squeeze out further economies of scale.

It continues to hold separate talks with Airbus and Boeing for 25 widebody planes, which could either be Airbus A330neos or Boeing 787 jets, sources have said.

With an order book now at over 1,300 aircraft, the contract also makes IndiGo Airbus' largest customer for the A320 family.

Industry executives say as many as 2,000 jet orders are up for grabs worldwide in a resurgent commercial jet market, on top of those provisionally announced already, as airlines try to fill a void left by sharp falls in activity in the Covid crisis.

Only a portion of these potential fresh deals will be ready in time for this week's air show, which could see a mixture of new and repeat announcements, they said.

The air show is taking place under the shadow of the conflict in Ukraine, with no Russian presence in the chalets and exhibition halls in contrast to the last event four years ago.

(Agencies)

More For You

Tata-Steel

he Port Talbot EAF will produce up to 3 million tonnes of steel per year using UK-sourced scrap.

getty images

Tata Group begins construction of new Electric Arc Furnace in Port Talbot

TATA STEEL UK has started construction of a new Electric Arc Furnace (EAF) at its Port Talbot site in South Wales. Tata Group chairman Natarajan Chandrasekaran marked the groundbreaking ceremony on July 14, joined by Tata Steel CEO and managing director TV Narendran and Tata Steel UK CEO Rajesh Nair.

The EAF project is part of Tata Steel UK’s £1.25 billion plan to transition to low-carbon steelmaking, backed by £500 million from the UK government. The furnace is expected to be commissioned by the end of 2027 and aims to reduce carbon emissions at Port Talbot by about 90 per cent, or 5 million tonnes of CO₂ annually. The project is expected to support 5,000 jobs.

Keep ReadingShow less
Virgin Media

Virgin Media has not yet issued an official statement about the current outage

iStock

Virgin Media users face nationwide blackout and Sky Sports login problems

Highlights:

  • Virgin Media users report widespread service outages on the morning of 14 July
  • Over 400 complaints logged on DownDetector within hours
  • Customers say live chat support has been unresponsive or unhelpful
  • Issues also reported with Sky Sports app logins via Virgin Media
  • Company yet to issue full statement but advises users to contact customer services

Virgin Media broadband users across the UK experienced widespread disruption on Monday morning (14 July), with several hundred reporting a complete internet “blackout” and issues accessing the Sky Sports app via their Virgin logins.

According to data from DownDetector, over 400 reports were logged in the early hours, with affected customers sharing their frustration online. Many cited connectivity failures, poor customer support, and issues persisting for hours.

Keep ReadingShow less
Labour’s non-dom tax changes may cost £4bn, experts warn

Starmer and Reeves during a visit to Horiba Mira in Nuneaton in Nuneaton. (Photo: Getty Images)

Labour’s non-dom tax changes may cost £4bn, experts warn

PLANS by Labour to overhaul the tax rules for non-domiciled residents in the UK could cost the public purse up to £4 billion and result in the loss of thousands of private sector jobs, according to a new analysis.

A report by the Centre for Economics and Business Research (CEBR), shared with The Times, suggested that scrapping the current non-dom regime could lead to a sharp drop in tax revenues if even a fraction of those affected decide to leave the country.

Keep ReadingShow less
Tesla set to open first showroom in India

Elon Musk and Narendra Modi (right)

Tesla set to open first showroom in India

US CARMAKER Tesla is finally making its official debut in India with the opening of its first showroom in Mumbai.

The firm, led by Elon Musk, will unveil the new “Tesla Experience Centre” on Tuesday (15) at Maker Maxity Mall in the Bandra Kurla Complex, one of the city's top commercial hubs.

Keep ReadingShow less
Asian firm acquires Kings Court Hotel for £2.75m

UK-based Nanak Hotels acquired the 60-room Kings Court Hotel in Warwickshire for £2.75 million. (Photo: Colliers International UK)

Asian firm acquires Kings Court Hotel for £2.75m

UK-BASED Nanak Hotels recently acquired the 60-room Kings Court Hotel, a 17th-century property in Warwickshire, England, for £2.75 million. This is the first regional acquisition by the privately held firm led by British Indians Harpreet Singh Saluja and Karamvir Singh.

Nanak Hotels, which operates a UK property portfolio, plans to invest in the property's refurbishment and repositioning, according to a statement from Colliers International UK, which brokered the transaction.

Keep ReadingShow less