Interglobe Aviation's stock price climbs approximately 2% as a result of a $50 billion Airbus deal.
Interglobe Aviation's stock rose about 2% on Tuesday on reports that the country's largest airline had inked a 500-aircraft deal with European aircraft maker Airbus SE at the Paris Air Show on Monday for an estimated $50 billion. Interglobe Aviation shares began 2.8% higher on the BSE today, at $2,499.95 per share. On Monday, Indigo shares finished 0.11% higher at $2,432.70 per share.To fuel its development over the next 10 years, the low-cost carrier will have frequent access to aircraft from the A320NEO family.The airline, which has a domestic market share of more than 60%, has already planned the delivery of about 500 aircraft. According to a press statement from the airline, the agreement would provide a steady supply of jets between 2030 and 2035. IndiGo's 1,000-strong order book includes A320NEO, A321NEO, and A321XLR aircraft. According to the company's exchange filing, this new order will bring an unparalleled degree of depth and breadth to IndiGo and Airbus'...
