Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

Europe’s ATR Signs Provisional Order For $1.3 Billion Indigo Plane Deal

European turboprop maker ATR has signed a provisional order to sell 50 ATR 72-600 aircraft, worth more than $1.3 billion at list price, to Indian airline IndiGo

Photo Credit :

1494329431_O6b6ud_Atr-72-600-470.jpg

European turboprop maker ATR has signed a provisional order to sell 50 ATR 72-600 aircraft, worth more than $1.3 billion at list price, to Indian airline IndiGo, the companies said on Tuesday (9 May).

ATR, which is jointly owned by Airbus and Italian company Leonardo, said the aircraft were set to start operations by the end of 2017.

If completed, the IndiGo plane deal would mark the biggest order for ATR, whose rivals include Bombardier, in at least a decade.

“Their decision further proves that our aircraft is the right tool to link communities and develop business across India,” said ATR chief executive officer Christian Scherer, commenting on the provisional order with IndiGo.

IndiGo, which also reported a drop in quarterly profits on Tuesday, currently flies the Airbus A320-family jets and is one of the European planemaker’s biggest customers.

InterGlobe Aviation Ltd, owner of IndiGo, posted a nearly 25 per cent fall in quarterly profit, hurt by rising fuel costs.

Net profit fell to Rs 440 crore ($68.04 million) in the quarter ended 31 March, compared with Rs 584 crore a year earlier, the company said in a statement.

Fuel costs during the fourth quarter rose 71 per cent to Rs 1,751 crore from the year-ago period, InterGlobe said.

(Reuters)


Tags assigned to this article:
atr aircraft IndiGo airline quarterly profit plane deal