Posted on 06/17/2005 1:46:22 AM PDT by Gengis Khan
Indigo orders 100 Airbus aircraft worth $6bn
Rakesh Gangwal, former CEO, US Airways, who has floated Indigo Airlines along with Interglobe Enterprises, has ordered 100 Airbus aircraft worth $ 6 billion.
2005-06-17 09:53
Rakesh Gangwal, former CEO, US Airways is entering the Indian aviation market with a bang. Indigo is the airline that Gangwal is floating with a tie-up along with travel company Interglobe.
Indigo has ordered 100 Airbus aircraft, and the $ 6 billion dollar deal is the largest Indian order for Airbus.
The low-cost airline, Indigo is funded and promoted joinly by Interglobe Enterprises and Rakesh Gangwal. Gangwal has over 20 years experience in aviation, after having worked at United Airlines, Airfrance and US Airways. Indigo will start with a capital base of about Rs 400 crore, and it will be a low cost model. The differentiator of course will be quality.
Indigo will start operations in the next six months after it gets its first aircraft.
Indigo will be the third low cost airline after Air Deccan and Spicejet. Over the last one week, Indian airliners have ordered close to 200 aircraft at the Paris air show from Airbus, Boeing and Embraier.
An Indian airline with no operational experience orders 100 Airbust aircraft. Hmmm..they must have a lot of credit.
Airbust was looking for something big and found it, but most Indian airlines have gone bust in the past. I don't think they have enought terminal space for all these planes in this time frame.
Airbus Announces 138 Jet Orders at Show
By LAURENCE FROST
The Associated Press
Thursday, June 16, 2005; 11:17 AM
PARIS -- Airbus won orders for 138 passenger jets from three airlines on Thursday, the fourth day of the Paris Air Show.
Brazilian airline TAM signed firm orders to buy 20 planes from the single-aisle Airbus A320 family as well as nonbinding commitments to buy eight of the A350, the European plane maker's answer to Boeing's long-range, mid-sized 787 "Dreamliner."
The world largest's passenger jetliner, the Airbus A380, demonstrates its capacity to fly in the rain during the third day of the 46th air show at Le Bourget, outside Paris, Wednesday, June 15, 2005. (AP Photo/Jerome Delay) (Jerome Delay - AP)
IndiGo, a new Indian airline, agreed to buy 100 jets from the A320 family, and Mexico's ABC Aerolineas signed nonbinding commitments for 10 more A320s.
ABC will take delivery of its A320s _ its first Airbus planes _ in the first quarter of 2007, Airbus said, and has options on 10 more.
New Delhi-based travel company InterGlobe Enterprises Ltd. and Indian businessman Rakesh Gangwal are teaming up to launch IndiGo, a low-cost carrier serving domestic routes. Gangwal has previously worked as a senior executive for United Airlines, Air France and US Airways.
Airbus said the IndiGo deal was worth $6 billion at catalog prices. As usual, the actual transaction values weren't disclosed.
"IndiGo is the result of extensive analysis and planning by very experienced airline executives and we're convinced it will be a successful new player," Airbus CEO Noel Forgeard said.
India's aviation boom has spawned several new airline launches in recent years and accounted for a large share of the business announced so far at this year's Paris show _ the aerospace industry's biggest global gathering.
http://www.washingtonpost.com/wp-dyn/content/article/2005/06/16/AR2005061600319.html
Well, I'm impressed
Wonder if it also flies in the dark?
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