Airbus is close to a potential record deal for the sale of 500 A320 narrow-body aircraft to India’s largest airline, IndiGo, industry sources said Sunday.

On the sidelines of an aviation sector meeting in Istanbul, the sources added that European aircraft manufacturer Airbus was the first candidate for an order that exceeds the largest purchase order placed by Air India, which amounted to 470 aircraft in February.

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Such a deal could be worth around $50 billion, according to Airbus’ latest price list, but industry analysts say it could be less than half, given discounts offered on large orders.

Airbus and Boeing are in separate talks to win a deal to sell 25 IndiGo wide-body aircraft, sources said.

IndiGo and Airbus declined to comment.

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