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Airbus has turned its fortunes around at the Dubai Airshow with a mammoth order of 430 jets for a reported price of $49.5 billion.

Veteran airline investor Bill Franke of Indigo Partners signed the preliminary order on Wednesday morning to buy 430 of the A320-family jets.

The deal includes aircraft for Wizz Air, Frontier Airlines, Jetsmart and Mexico’s Volaris. Indigo has stakes in all ‎four airlines.

“We’ve done a little research and we don’t ‎think there’s been a larger order ever,” Franke said at the press conference in Dubai on Wednesday.

The deal puts an emphatic full stop on the career of Airbus sales chief John Leahy who is set to retire after more than 20 years as the firm’s marketing boss.

Airbus had been trailing rival Boeing this year in terms of new jet orders but this huge order puts the European planemaker firmly back on the front foot.