On June 20, IndiGo operator InterGlobe Aviation’s share price rose over 2% in the early morning trade to hit a 52-week high of Rs 2,490, a day after it ordered 500 Airbus A320 aircraft, the largest-ever order in aviation history.

IndiGo’s record order elites that of rival Air India, which signed a deal in February for 470 aircraft from Airbus (250) and Boeing (220).

IndiGo is programmed to accept these new aeroplanes from 2030 to 2035, and the overall value is estimated to be about $50 billion. The order comprises an amalgamation of A320 neo, A321 neo, and A321 XLR aircraft models.

At 9:36 am, InterGlobe Aviation shares were trading at Rs 2,454, up 1% on the NSE.

IndiGo CEO Pieter Elbers also presented bullish guidance, saying the airline will have a fleet of 600 aircraft by 2030 end. The order will play a noteworthy role in IndiGo’s international expansion, securing the airline for the next ten years.

The low-cost carrier operates around 304 aircraft and has a previous order of 480 aircraft to be delivered during FY24-30.

Elbers was also assured of assessing funding options for the mega order, and placing the order now would leave the company ample time to decide its domestic and international network along with pilot requirements.

Morgan Stanley has given an “overweight” rating for the low-cost carrier and a price target of Rs 3,126 per share.