Business & Finance
03 March 2023, 7:17 pm. 1 minute
Reuters exclusively reported that Indian budget carrier IndiGo is in talks with both Boeing (BA.N) and its current supplier Airbus (AIR.PA) to order more than 500 passenger jets, potentially smashing an industry record set by domestic rival Air India a few weeks ago. India’s largest airline has, until now, been an exclusive buyer of narrow-body jets from Airbus. As Indian carriers try to keep pace with the world’s fastest-growing aviation market, serving what is soon to become the largest population, industry records continue to be set while manufacturers struggle to meet output goals.
IndiGo, which comprises a 55% share of the domestic market, is widely expected to maintain Airbus as its supplier of narrow-body jets to squeeze out further economies of scale. While analysts have warned the market could overheat again, Dublin-based Avolon has said consolidation and airport upgrades have improved the outlook and India is set to remain a major source of growth.
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Aerospace & DefenceBusiness & Finance
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story