Avolon delivers 5 MAX aircraft to India’s Akasa

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Akasa Avolon Delivery
(PHOTO: Via Avolon)

SeoulAvolon, the international aircraft leasing company, announced 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. This sale and leaseback transaction is Avolon’s first deal with Akasa.

Paul Geaney, President and Chief Commercial Officer at Avolon commented: “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.”

Bhavin Joshi, Co-Founder and Sr. Vice President – Leasing & Procurement at Akasa Air commented: “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. Avolon is 70 percent owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange and 30 percent owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges.

Akasa Air is India’s newest airline. The carrier launched its first commercial flight on 07 August 2022 to support the growing demand across India. 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 deliver superior efficiency in reducing fuel use and carbon emissions, fulfilling the airline’s promise of being an environmentally friendly company with the youngest and greenest fleet in the Indian skies.


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