Airbus SA (EADSY) shares surged Wednesday after it announced a $50 billion deal to sell 430 jets to Indigo Partners, the biggest ever single order for the Franco-German planemaker.

Airbus shares were marked 3% higher on the session. 

Airbus said Wednesday that it had secured a commitment from Indigo Partners, whose airlines include Frontier, Volaris, JetSmart and Wizz Air, for 430 aircraft from the A320neo family at the Dubai Airshow.

#DAS17: proud to share our largest single commercial announcement ever with Indigo Partners' four portfolio airlines following the signature of a Memorandum of Understanding for 430 #A320neo Family aircraft - a deal worth nearly $50 billion at list prices. An Airbus record! pic.twitter.com/fX3lcLnmgK

— Airbus (@Airbus) November 15, 2017

"An order for 430 aircraft is remarkable, but it's particularly gratifying to all of us at Airbus when it comes from a group of airline professionals who know our products as well as the folks at Indigo Partners do," Airbus CEO John Leahy said at a press conference about the deal.

The deal includes 273 A320neo jets and 157 of the larger A321neo variant.

"This significant commitment for 430 additional jets underscores our optimistic view of the growth potential of our family of low-cost airlines, as well as our confidence in the A320neo Family as a platform for that growth" Indigo Partners' Managing Partner Bill Franke said.

The deal marks a dramatic step forward for Airbus and its single-aisle jet program, as it competes with Boeing (BA) .

Boeing kicked off the Dubai Airshow announcing on Monday that Emirates has placed a $15 billion deal for 40 787 Dreamliners.

Boeing shares closed at $261.76, after losing 0.23%.

More of What's Trending on TheStreet:

More from Futures

Last Week's Big Move Was Dominated by Options Expiration

Last Week's Big Move Was Dominated by Options Expiration

Your Need to Know - Forward Look

Your Need to Know - Forward Look

How E-Mini S&P 500 Revolutionized Equity, Electronic Trading

How E-Mini S&P 500 Revolutionized Equity, Electronic Trading

What Jim Cramer Would Do if He Was on the Fed

What Jim Cramer Would Do if He Was on the Fed

Can You Trust the Q3 Data From China?

Can You Trust the Q3 Data From China?