February 7 2023  |  Airline & Terminal News

Avolon delivers five 737-8 MAX to Akasa Air

By PAX Magazine Staff

Delivery of five new 737-8 MAX aircraft to Akasa Air was completed in January 2023

Avolon, an international aircraft leasing company, announced today the completion of the delivery of five new 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, according to a February 7 press release.

Paul Geaney, President and Chief Commercial Officer at Avolon said in the release: “We are excited to support new entrants to the market, so it is a pleasure to have completed this transaction to lease five new narrowbody aircraft to Akasa. We congratulate Akasa on their successful launch and look forward to building on our strong relationship with them.”

This sale and leaseback transaction is Avolon’s first deal with Akasa, which launched its first commercial flight on August 7, 2022 to support the growing demand across India. The 737 MAX family aircraft, powered by CFM fuel efficient and LEAP-1B engines, delivers high-level efficiency in reducing fuel use and carbon emissions.

Bhavin Joshi, Co-Founder and Sr. Vice President - Leasing & Procurement at Akasa Air said in the release: “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.”

Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. The company has an owned, managed and committed fleet of 834 aircraft as of December 31 2022.

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