PARIS, June 19 — Europe’s Airbus announced a record order from Indian budget carrier IndiGo for 500 jets on the opening day of the Paris Airshow today.

The multibillion-dollar narrowbody deal is the largest ever by number of aircraft, eclipsing Air India’s provisional purchase of 470 jets earlier this year as India’s two largest carriers brace for sharp expansion in regional travel demand.

The deal follows months of negotiations first reported by Reuters.

"This is just the beginning, there’s more going forward. With the growth of India (and) the growth of the Indian aviation market... this is the right time for us to place this order,” Chief Executive Pieter Elbers told a news conference.

The aircraft will be delivered between 2030 and 2035. — Reuters