The Elysee has announced that the aviation group Safran will sign Saturday, March 10 a contract of 12 billion euros with the airline SpiceJet.
The French aerospace group Safran will conclude Saturday a 12 billion euros contract with the Indian low-cost airline SpiceJet for the supply and maintenance of aircraft engines, announced the Elysee.
The contract signing comes on the occasion of the state visit of three days in India French President Emmanuel Macron, to strengthen political and economic ties with the demographic giant of South Asia.
Details of the contract to be specified
The exact details of this market were not known immediately. The contract must be formally signed in the afternoon by the bosses of both groups.
The economic benefits should also benefit the Indian partners and Safran, in proportions that remain to be specified.
The highly competitive airline industry in France of 1.25 billion has experienced a boom in recent years, driven by the emergence of a middle class that travels more. Air transport is growing in India also by about 20% a year.
Indian air traffic growth
From less than 20 million a year in 2004, nearly 117 million passengers flew to India in 2017, according to figures from Indian civil aviation.
Through subsidies and tax incentives, New Delhi also encourages airlines to open more regional routes on less frequented lines.
The sector is dominated by the low-cost company IndiGo, with nearly 40% of market share. SpiceJet accounts for about 13%, at the same level as the public carrier Air India.
