Indigo Partners, the private equity firm of veteran low-cost airline investor Bill Franke, agreed on Wednesday to acquire 50 of the new long-range version of Airbus' A321neo jet.

Twenty of the planes will be allocated to Hungary's Wizz Air, 18 to US carrier Frontier Airlines and 12 to Chile's Jetsmart, the companies announced at a joint news conference at the Paris Airshow.

Indigo Partners has major stakes in the three airlines.