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India agrees to buy 43 Airbus jets

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India agrees to buy 43 Airbus jets

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The French President has finalised a deal with India to buy 43 Airbus passenger jets for nearly 2.5 billion euros. It came shortly after Jacques Chirac landed in New Delhi in a bid to strengthen ties between the two countries. Talks have been ongoing for some time and the agreement was signed by Indian Prime Minister Manmohan Singh and the chief executive of Airbus, Noel Forgeard earlier today.

The state-owned airline, which changed its name to simply “Indian” in December from Indian Airlines, flies mainly domestic routes. Under the deal, Indian will purchase four A320’s, nineteen A319’s and 20 A321 airplanes. The airline is struggling to fend off challenges to its market share by low-cost newcomers to India’s airline industry. France and India are also expected to agree a number of other deals in fields ranging from civilian nuclear energy and space to defence and education