India's discount airline IndiGo made history by placing the biggest single purchase agreement in the history of commercial aviation with a record order for 500 Airbus A320 family aircraft on Monday, handing the European plane maker a colossal win on the first day of the Paris Air Show over US rival Boeing.
The firm order surpasses Air India's provisional order in February for 470 jets from Airbus and Boeing, Airbus said in a statement.
The deal takes the Indian airline's order backlog to nearly 1,000 planes as it seeks to expand to meet a sharp surge in travel demand in the world's fastest-growing aviation market, IndiGo said in a statement on Monday.
The airline, which currently operates a fleet of more than 300 aircraft, has previous orders totalling 480 planes that have yet to be delivered through to the end of this decade.
“It is difficult to overstate the significance of IndiGo’s new historic order,” Pieter Elbers, the airline's chief executive, said.
The nearly 1,000-strong order “enables IndiGo to fulfil its mission to continue to boost economic growth, social cohesion and mobility in India”.
The aircraft deliveries will start in 2030 through to 2035, IndiGo said.
The engine selection for the order will be made “in due course”, as will the exact mix of A320 and A321 aircraft, the airline said.
“This landmark order marks a new chapter in Airbus and IndiGo’s relationship that is democratising affordable air travel for millions of people in the world’s fastest growing aviation market,” said Christian Scherer, chief commercial officer and head of international at Airbus.
The deal solidifies Airbus's dominance over the single-aisle jet segment, which is the most widely flown aircraft type.
For IndiGo, the order allows the airline to capitalise on a travel boom in the world’s most populated country and drive its ambitions for international expansion.
Earlier this month, Airbus said that Asia and the Middle East, led by China and India, would power air traffic growth, further shifting aviation industry's “centre of gravity” eastward.
Earlier on Monday, Airbus scored another win in the major aviation market of Saudi Arabia.
Discount airline Flynas firmed up an order for 30 more Airbus A320neo family aircraft worth 14 billion Saudi riyals ($3.73 billion) at list prices, expanding operations in line with the country's ambitions to grow its aviation sector.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
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UAE currency: the story behind the money in your pockets
2.0
Director: S Shankar
Producer: Lyca Productions; presented by Dharma Films
Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey
Rating: 3.5/5 stars
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Other IPL batting records
Most sixes: 292 – Chris Gayle
Most fours: 491 – Gautam Gambhir
Highest individual score: 175 not out – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)
Highest strike-rate: 177.29 – Andre Russell
Highest strike-rate in an innings: 422.22 – Chris Morris (for Delhi Daredevils against Rising Pune Supergiant in 2017)
Highest average: 52.16 – Vijay Shankar
Most centuries: 6 – Chris Gayle
Most fifties: 36 – Gautam Gambhir
Fastest hundred (balls faced): 30 – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)
Fastest fifty (balls faced): 14 – Lokesh Rahul (for Kings XI Punjab against Delhi Daredevils in 2018)
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Sholto Byrnes on Myanmar politics
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