IndiGo, India's most preferred airline, is further defining its long-term future by strengthening its fleet with the introduction of wide-body aircraft to its fleet. Since inception in 2006, IndiGo has been successfully building its position and is now defining its future further on the path of becoming a global aviation player.
IndiGo agreed to place an order for 30 Firm A350-900 aircraft, which will enable IndiGo to spread its wings further and expand its network. From the various Indian metros, IndiGo will be able to connect to the world. The aircraft will be powered by Rolls Royce's Trent XWB engine. The mission capability of this aircraft coupled with the efficiency of the Trent XWB engine will offer IndiGo unprecedented optionality as it embarks on the next stage of its wonderful journey of addressing the rapidly evolving needs of the Indian customer and our nation.
Currently, IndiGo operates over 350 aircraft. Last year, in June 2023, IndiGo placed the largest ever single aircraft order by any airline for 500 aircraft with Airbus. With that, the outstanding orderbook of A320 Family aircraft stands at almost 1,000 aircraft which are yet to be delivered well into the next decade. This IndiGo order-book comprises a mix of A320NEO, A321NEO and A321XLR aircraft.
This new order will bring the strategic relationship between IndiGo and Airbus to an unprecedented level in terms of depth, breadth, and size. For the relationship between IndiGo and Rolls Royce, this marks the beginning of a new, long and fruitful relationship.
The exact configuration of the aircraft will be decided at a later stage, and the deliveries are expected to start from 2027. In addition to the 30 Firm A350-900 order, IndiGo has Purchase Rights for an additional 70 Airbus A350 Family aircraft, at its discretion, for possible future needs under certain conditions.
In calendar year 2023, IndiGo welcomed 100 million customers onboard its flights and as such, the airline is, quite literally, giving wings to our nation. IndiGo is amongst the fastest growing airlines in the world, and this order will allow it to strengthen its growth trajectory.
Before the end of this decade, the Indian economy is expected to grow from being the world's 5th largest today to being the 3rd largest. Specifically in aviation, the Indian government has stated its mission to ensure that by 2030 India comes into her own on the world stage of aviation leadership by building cutting-edge infrastructure and developing the country into a global aviation hub.
With IndiGo's current fleet, the almost 1000 A320 Family aircraft yet to be delivered, and today's order for wide-body aircraft, IndiGo is not only well positioned to expand and densify its unparalleled network but equally importantly, IndiGo will play its part to fulfill the Indian Government's stated mission.
This milestone was celebrated on April 25th in Gurgaon at InterGlobe's Corporate Headquarters by Mr. Pieter Elbers, IndiGo's CEO, Mr. Benoît de Saint-Exupéry, Airbus' Executive Vice President of Commercial Aircraft and Mr. Ewen McDonald, Rolls Royce's Chief Customer Officer - Civil Aerospace, and in the presence of Dr. V. Sumantran, Chairman of the Board of IndiGo and Mr. Christian Scherer, Airbus' CEO of Commercial Aircraft.
Pieter Elbers, CEO of IndiGo, said, "Today's historic moment marks a new chapter for IndiGo and will further shape the future of the airline and for Indian aviation at the same time. For IndiGo, after successfully pioneering the Indian skies with an unprecedented journey, its fleet of 30 Airbus A350-900 aircraft will allow IndiGo to embark on its next phase of becoming one of the leading global aviation players. At IndiGo, we take pride in being India's preferred airline and for offering connectivity to our customers, in and with India. This reaffirms IndiGo's belief in, and commitment to, the growth of India, and in our strategic partnership with Airbus."
Shares of InterGlobe Aviation Limited was last trading in BSE at Rs. 3815.05 as compared to the previous close of Rs. 3742.35. The total number of shares traded during the day was 19556 in over 3054 trades.
The stock hit an intraday high of Rs. 3829.45 and intraday low of 3728.45. The net turnover during the day was Rs. 74011703.00. |
