IndiGo, India’s biggest domestic carrier by market share, plans to more than double its fleet in a decade as part of a goal to eventually become a 1,000-plane operator by tapping the nation’s rising travel demand.
IndiGo will have at least 150 planes by 2023, President Aditya Ghosh said in an interview. The budget airline now has 70 Airbus SAS A320s, he said, without giving a timeframe for building the fleet to 1,000 aircraft.
The privately held company’s expansion plans mirror that of Indonesia’s PT Lion Mentari Airlines and Malaysia’s AirAsia Bhd. (AIRA) as Asia’s economic growth enables more people to fly for the first time. Demand from India and China and global growth of low-fare carriers will spur a market for $4.4 trillion worth of commercial planes in the next two decades, according to Airbus.
“The long term potential of the Indian market is pretty huge,” said Kapil Kaul, the head of the Indian unit of CAPA Centre for Aviation, which advises airlines. “I don’t see any reason why such an ambition is not possible.”
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