Rakesh Jhunjhunwala-backed Akasa Air Orders 72 Boeing 737 MAX Aircraft for Nearly US$9 Billion
IANS 17 November 2021
Stock market maverick Rakesh Jhunjhunwala-backed SNV Aviation, whose upcoming airline venture—Akasa Air—on Tuesday placed an order for 72 Boeing 737 Max aircraft at the Dubai aeroshow which is being held here.
The airline, through this order, aims to build up on its fleet to serve the rapidly growing Indian market. Accordingly, this order includes two variants from the 737 Max family, the 737-8 and the high-capacity 737-8-200.
"We believe that the new 737 MAX airplane will support our aim of running not just a cost-efficient, reliable and affordable airline, but also an environmental friendly company with the youngest and greenest fleet in the Indian skies," said Akasa Air CEO (chief executive officer) Vinay Dube.
"India is one of the fastest-growing aviation markets in the world with an unparalleled potential. We are already witnessing a strong recovery in air travel, and we see decades of growth ahead of us."
The carrier plans to offer commercial flights starting in the summer of 2022 and use its new fleet of 737s to meet the growing demand across India.
As per Boeing Commercial Airplanes, 737 MAX family delivers superior efficiency, flexibility and reliability while reducing fuel use and carbon emissions by at least 14% compared to airplanes it replaces.
The Boeing's 2021 Commercial Market Outlook had cited that India's growing economy and expanding middle class will fuel strong demand for commercial flights, driving the need for more than 2,200 new airplanes in South Asia valued at nearly $320 billion over the next 20 years.
"The 737 MAX, with its optimized performance, flexibility and capability, is the perfect airplane to establish Akasa Air in the Indian market and ensure it effectively grows its network," said Stan Deal, Boeing Commercial Airplanes president and CEO.
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