Avolon’s first lease deal with India’s newest airline
Avolon, the international aircraft leasing company, has confirmed it has completed the delivery of 5 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 5 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.”
Akasa Air hopes to have a fleet of 72 Boeing 737 MAX aircraft powered by the highly fuel-efficient CFM LEAP-1B engine, over a period of five years. The 737 MAX family provides low seat-mile costs for a single-aisle aeroplane as well as high dispatch reliability. Every aircraft will feature the Boeing Sky Interior, highlighted by modern sculpted sidewalls, window reveals and LED lighting that enhances the cabin experience.
Recently the carrier announced the addition of its 14th destination – Varanasi to its fast-growing network. The airline will operate non-stop daily flights between Varanasi and Bengaluru starting 18th February 2023 with a ramp-up of frequency on the route from 1st March 2023. Varanasi will also be connected to Goa by a daily flight via Bengaluru (with no change of aircraft required at Bengaluru) providing seamless one-stop connectivity between the two popular tourist hubs.
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Since its launch in August 2022, Akasa Air has carried over 1 million revenue passengers and crossed the milestone of operating over 575 weekly flights with an announced network of 21 unique routes connecting 14 cities, namely Ahmedabad, Bengaluru, Kochi, Chennai, Mumbai, Delhi, Guwahati, Agartala, Pune, Visakhapatnam, Lucknow, Goa, Hyderabad, and Varanasi.
Registration: 09:00 AM - 11:00 AM
It is mandatory to register.
Venue: AKSA INTERNATIONAL - Lakshmi Tower, 2nd Floor 576, MG Road - Opposite Treasure Island Mall, Indore - Madhya Pradesh.
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