Avolon Delivers 5 MAX’s to India’s Akasa Air
Avolon has announced that it has completed the delivery of five 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. Akasa Air started operations with their first flight in August 2022 and they currently operate to 13 destinations in India from their bases in Bengaluru and Mumbai. The airline has ambitious plans to have a fleet of over 70 aircraft within five years. This sale and leaseback transaction is Avolon’s first deal with Akasa.
Commenting on the deal, the President and Chief Commercial Officer at Avolon, Paul Geaney said, “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.”
Also commenting was the Co-Founder and Sr. Vice President – Leasing & Procurement at Akasa Air, Bhavin Joshi who said, “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.”
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