Indigo Partners nears deal for 400 Airbus jets

A plane of Al Fursan or the Knights a UAE Air Force aerobatic display team performs during the Dubai Air Show United Arab Emirates Monday Nov. 13 2017

Indigo Partners nears deal for 400 Airbus jets

Airbus Chief Executive Tom Enders left the air show on Monday, though sales chief John Leahy remained at the event in an effort to catch up on negotiations delayed by urgent talks prompted by the unexpected suspension of the A380 deal. Together, the orders totaled $76.5 billion, which set a new record.

In its largest single order ever, European plane maker Airbus on Wednesday clinched the deal for 430 aircraft from US-based private equity fund, Indigo Partners, in a deal valued at $49.5 billion in list prices.

The mammoth deal puts Indigo Partners among the biggest customers by order number for Airbus single-aisle aircraft.

This year's air show has seen less sales than in past years.

With the Dubai show winding down, Airbus' mega-sale made up for its disappointment earlier this week when a big sale of A380 jets to Emirates Airline failed to come together.

Airbus, shares of which rose by 2.4 percent on Wednesday, said it expects to finalise the transaction directly with the airlines in the coming weeks as it tries to close a 250-plane deficit in its order race with Boeing.

Airbus has closed the gap with the single largest order in company history.

The only major deal announced so far came Sunday, when long-haul carrier Emirates purchased 40 Boeing 787-10 Dreamliners in a $15.1 billion deal. The new jets will be divided among its Frontier Airlines, JetSMART, Volaris and Wizz Air carriers.

"An order for 430 aircraft is remarkable, but it's particularly gratifying to all of us at Airbus when it comes from a group of airline professionals who know our products as well as the folks at Indigo Partners do". Including options to buy a further 50 planes, that deal could be worth $27 billion at list prices.

AerCap is the world's largest lessor of the Airbus A320neo; and the largest customer of the Boeing 787, with 116 on order and owned. "We look forward to the 787 becoming an integral part of EgyptAir's fleet as we progress our modernization and network expansion plans", Safwat Musallam, chairman and CEO of EgyptAir Holding Co., said in a news release.

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