Rakesh Jhunjhunwala's Akasa Air orders 72 Boeing 737 MAX aircraft

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Ace stock market investor Rakesh Jhunjhunwala-backed Akasa Air struck a deal with Boeing to buy 72 fuel-efficient 737 MAX airplanes on Tuesday. The soon-to-be-launched airline's order is reportedly valued at $9 billion. The order reportedly includes 737-8 and high-capacity 737-8-200 airplanes. Akasa Air is expected to start operations from summer 2022 as an ultra-low-cost airline.

They have placed its trust in the 737 families to drive affordable passenger service in one of the world's fastest-growing aviation regions," Stan Deal, president and chief executive officer (CEO) of Boeing Commercial Airplanes, said in a statement.

Akasa Air partnered with Boeing for their first airplane order their trust and confidence in Akasa Air's business plan and leadership team, India is one of the fastest-growing aviation markets in the world with unparalleled potential. We are already witnessing a strong recovery in air travel, and we see decades of growth ahead of us.

According to the statement by Boeing, Akasa Air has ordered two models from the 737 MAX family, the 737-8 and the high-capacity 737-8-200. The Mumbai-based carrier will begin taking delivery of the planes starting mid-2022, according to the statement.The order by Akasa Air comes months after the Directorate General of Civil Aviation (DGCA) allowed airlines to fly the MAX jet, ending its nearly two and a half years of regulatory grounding after two fatal crashes in five months killed 346 people

India had recently allowed modified B737 Max to fly. The aircraft was banned in March 2019 after two fatal crashes. The deal marks a step forward for Akasa Air, which received its no-objection certificate from the Ministry of Civil Aviation in mid- October. India is also witnessing a surge in demand for commercial aircraft as flight operations return to pre-pandemic levels

New 737 MAX airplanes will support our aim of running not just a cost-efficient, reliable and affordable airline, but also an environmentally friendly company with the youngest and greenest fleet in the Indian skies.

 

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