Avolon, the international aircraft leasing company, announces it has completed the delivery of 5 new Boeing 737-8 MAX aircraft to Akasa Air, India’s newest airline.
Delivery of the aircraft commenced in December 2022 and was completed in January 2023.
This sale and leaseback transaction is Avolon’s first deal with Akasa.
“We are excited to support new entrants to the market, so it is a pleasure to have completed this transaction to lease 5 new narrowbody aircraft to Akasa. We congratulate Akasa on their successful launch and look forward to building on our strong relationship with them.” said Paul Geaney, President and Chief Commercial Officer at Avolon.
“Since our launch last August we have rapidly added capacity, new routes and welcomed one million passengers to our unique offering. We are delighted to join hands with Avolon and will continue to invest in new technology aircraft that can offer superior reliability and carbon efficiency.” Bhavin Joshi, Co-Founder and Sr. Vice President - Leasing & Procurement at Akasa Air commented.
Akasa Air has placed a firm order of 72 Boeing 737 MAX airplanes, powered by CFM fuel efficient, LEAP-1B engines. The 737 MAX family aircraft. Akasa Air has taken delivery of its first Boeing 737 MAX aircraft. on June 16, 2022, around three months after India’s Directorate General of Civil Aviation (DGCA) granted the planes the green light. Akasa Air is scheduled to receive 18 aircraft from Boeing by March 2023
Founded in December 2021, Akasa Air offers air connectivity services across various cities in India, such as Bangalore (BLR), Delhi (DEL), Chennai (MAA), Hyderabad (HYD), and Mumbai (BOM) as part of its initial network.