In the largest global aircraft order, no-frill carrier IndiGo on Wednesday signed a MoU to acquire 250 of the latest Airbus A-320 neo aircraft worth over $25.5 billion or Rs 1.55 lakh crore, as per the list price per aircraft.
The move came on the back of its previous orders of 100 A-320s in 2005 and another 180 A-320 neos in 2011 worth about $11 billion, which was the largest-ever at that time.
IndiGo's co-founders, Rakesh Gangwal and Rahul Bhatia, who is also the Group Managing Director of the airline's parent firm InterGlobe Enterprises, signed the Memorandum of Understanding (MoU) placing firm orders for 250 A-320neo family aircraft at the Airbus headquarters in Toulouse, France.
As per the plane manufacturer Airbus, the list price per A-320 neo aircraft is $102.8 million.
The agreement becomes Airbus' single largest order by number of aircraft, IndiGo and Airbus said in a statement.
"This new order reaffirms IndiGo's commitment to the long-term development of affordable air transportation in India and overseas," IndiGo President Aditya Ghosh said.
"The additional aircraft will enable us to continue to bring our low fares and courteous, hassle-free service to more customers and markets and will create more job opportunities and growth. The IndiGo team is energised and excited to herald this new phase of our growth," Ghosh said.
Thanking the company for "their tremendous vote of confidence," Airbus President and CEO Fabrice Bregier said, "The A-320 neo continues to dominate world market share and this commitment confirms the A-320 family as the aircraft of choice in the most dynamic aviation growth markets."
While IndiGo was not expected to select the engines for this new order "in the near future", the A-320 neo plane incorporates many innovations, including latest generation engines and large Sharklet wing-tip devices, which together deliver 15 per cent in fuel savings, the statement said.
IndiGo, which recorded a 32.6 per cent market share in August, currently has a functional fleet of 83 180-seater all -economy A-320s. It operates over 500 daily flights to over 30 destinations in India and five abroad.