India's Akasa Air adds seven Boeing 737 MAX aircraft in latest Avolon deal

India’s Akasa Air is adding up to seven Boeing 737-8200 aircraft to its fleet through a new sale and leaseback agreement with aviation finance company and plane lessor Avolon.

The deal expands the partnership between Avolon and Akasa Air and will support the Indian airline’s continued fleet growth and network expansion.

The Boeing 737-8200 is the highest-capacity variant of the 737-8 MAX. According to Avolon, the aircraft offers improved operating economics, along with lower fuel consumption and emissions compared with previous-generation aircraft.

The latest transaction is the third between Avolon and Akasa Air, according to Akasa’s Chief of Governance and Strategic Acquisitions Priya Mehra.

“We are pleased to further strengthen our partnership with Avolon through this third transaction, adding seven Boeing 737-8200 aircraft to our fleet,” Mehra said.

She added, "This continued collaboration is a testament to our shared long-term conviction in Akasa Air’s growth trajectory and the strength of the Indian aviation market.”

India’s growing aviation market

Avolon said the aircraft will support Akasa’s growth in India, which it described as one of the world’s fastest-growing aviation markets.

Ramón Stortini, Managing Director, Middle East, Africa and South Asia at Avolon, said the company was pleased to expand its partnership with Akasa, which dates back to the launch of the airline.

“India remains one of the most compelling growth markets in global aviation, supported by strong economic fundamentals and increasing demand for air travel,” he said.

Avolon said the 737-8200 has attracted strong demand from airlines looking to improve efficiency while continuing to expand.

Avolon had an owned, managed and committed fleet of 1,117 aircraft as of June 30 this year, working with 138 airlines across 60 countries.