Airbus is closing in on a potential record deal to sell 500 A320 family aircraft to India’s largest airline IndiGo.

“The European airline is leading the order to break Air India’s historic provisional purchase of 470 aircraft in February,” sources said on the sidelines of an airline industry meeting in Istanbul.

Such a deal could be worth about $50 billion at the latest Airbus list price published recently, but that would typically be less than half that after the airline industry cuts wholesale contracts, according to airline analysts.

“Airbus and Boeing are also in separate negotiations to sell 25 A330neo or Boeing 787 aircraft to the same airline,” they said.

Negotiations with Airbus and Boeing

In March, Reuters first reported that IndiGo, which has 56 percent of the domestic Indian market, was in talks with both Airbus and Boeing.

The new order comes as IndiGo, one of the European conglomerate’s largest customers, has yet to deliver nearly 500 of its total order of 830 Airbus A320 family aircraft.

Airbus and Boeing are extending billions of dollars in new orders beyond 2030 as the airlines lock up supplies long ago amid shortages. (Reuters)