Jhunjhunwala-backed Akasa Air signs $9 bn deal for 72 Boeing 737 Max planes

The airline received no objection certificate from the civil aviation ministry last month

Markets may correct in the short term. But in a bull market the correction is always sharp, swift and short-lived: Rakesh Jhunjunwala

Rakesh Jhunjunwala

Aneesh Phadnis Mumbai
Akasa Air, the Indian low-cost airline backed by billionaire investor Rakesh Jhunjhunwala, has placed an order for 72 Boeing 737 MAX aircraft. The order, valued at $9 billion at list prices, was signed at the Dubai Air Show on Tuesday. Typically, airlines secure big discounts from the original equipment manufacturers while placing orders.

Akasa Air’s order includes two variants from the 737 MAX family, including the 737-8 and the high-capacity 737-8-200. The 737 MAX was cleared for operations by the Indian civil aviation regulator in August after a two-year ban.

While the joint announcement did not give the details, sources indicated that

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First Published: Nov 16 2021 | 7:08 PM IST

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