FLEET - Avolon Agrees Sale And Leaseback Of Seven Boeing 737-8200 Aircraft With Akasa Air

Avolon Holdings Limited (‘Avolon’), a leading global aviation finance company, has agreed a sale and leaseback transaction with Akasa Air (“Akasa”), India’s fastest-growing airline, for up to seven Boeing 737-8200 aircraft.

The transaction further expands Avolon’s partnership with Akasa. These aircraft will support Akasa’s continued fleet growth and network development in one of the world’s most dynamic and fastest-growing aviation markets.

The Boeing 737-8200 is the highest-capacity variant of the 737-8 MAX, combining improved operating economics with lower fuel consumption and emissions compared to previous-generation aircraft. The aircraft has attracted strong demand from airlines seeking to enhance efficiency while supporting growth plans.

Ramón Stortini, Managing Director, Middle East, Africa and South Asia of Avolon, commented:

“We are delighted to expand our partnership with Akasa Air through this transaction, a relationship that dates back to the very 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.”

Priya Mehra, Chief of Governance and Strategic Acquisitions of Akasa Air, commented:

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

PARIS AIR SHOW 2023 - Boeing, Avolon Announce Order for 40 737 MAX Jets

LE BOURGET, France, June 20, 2023 /PRNewswire/ -- Boeing [NYSE: BA] and Avolon, the international aircraft leasing company, today announced an order for 40 737 MAX airplanes at the Paris Air Show.

"Today's announcement reaffirms our long-standing partnership with Boeing and our support for their 737 MAX program. We are confident in the long-term demand from our customers for the 737 MAX, and this order extends our delivery pipeline out to 2030," said Andy Cronin, CEO, Avolon. "The transitioning of the global fleet to more fuel-efficient new-technology aircraft is a priority for our industry, and we are looking to play a leading role by supporting airlines achieving their sustainability objectives."

The 737 MAX will provide Avolon's customers with greater flexibility across their network, while reducing fuel use and emissions by 20% compared to the airplanes they replace. On average each airplane will save up to 8 million pounds of CO2 annually compared to airplanes it replaces.

"This order demonstrates the popularity of the 737-8 among the leasing community and the demand they are seeing from their customers for this airplane model," said Stan Deal, president and CEO, Boeing Commercial Airplanes. "Avolon has a long-standing relationship with the 737 MAX program and took delivery of the 1,000th 737 MAX last year. We look forward to building on this strong relationship with a key leasing partner as they grow their Boeing portfolio of airplanes."

This order was previously unidentified on the Boeing Orders & Deliveries website.

The 737-8 models, seating 162 to 210 passengers depending on configuration and with a range of 3,500 nautical miles, is the market's most versatile single-aisle airplane, capable of operating profitably on short and medium-haul routes.

Boeing customers have placed more than 1,000 orders and commitments for the company's new commercial airplanes since July 2022. This includes over 750 737 MAX airplanes, reflecting the value of the family's versatility and commonality.