A spokesman for Airbus declined to comment, as did Indigo says Bloomberg. The deal "underscores our optimistic view of the growth potential of our family of low cosr airlines as well as our confidence in the A320neo family as a platform for that growth".
Airbus has signed a deal to sell 430 jetliners, one of the largest orders in the history of commercial aviation. The Toulouse-based manufacturer hasn't been able to convince Emirates as of yet to buy more A380 superjumbos.
The air show is proving a positive one for Airbus, who began the annual event lagging behind rival Boeing in the order department in 2017, so far.
Airbus said the deal would be finalised before the end of this year.
Qualcomm rejects Broadcom acquisition bid
Chief executive Steve Mollenkopf added that Qualcomm's achievements to date have offered significant value to stockholders. The deal would dwarf Dell Inc.'s $67 billion acquisition of EMC in 2015 - then the biggest in the technology industry.
Airbus has turned its fortunes around at the Dubai Airshow with a mammoth order of 430 jets worth a total $49.5 billion. The latter is weighing an order for as many as 175 narrow-body planes that could be split between the A321neo and Boeing's 737 Max.
Indigo Partners' managing partner, Bill Franke agreed the deal with Airbus after he flew into the Dubai Air Show earlier Wednesday.
Wednesday's historic deal represents a final grand act for Airbus's chief salesman, John Leahy, who plans to retire from the company once a successor is selected. An order of 20 jets would be valued at US$8.7 billion while an order for 36 of the aircraft would be worth $15.7bn at list prices before discount.
Indigo controls Frontier and Chilean low-cost start-up JetSmart and also holds stakes in Mexican budget airline Volaris and European low-cost carrier Wizz.