Rakesh Jhunjhunwala-backed Akasa orders 72 Boeing 737 Max planes

Billionaire investor Rakesh Jhunjhunwala-backed Akasa Air, a new-to-be-launched airline in India, has ordered 72 Boeing 737 Max airplanes to launch services.

“The new Indian carrier's order is valued at nearly $9 billion, and includes 737-8 and the high-capacity 737-8-200,” according to an official Boeing statement.

“We are delighted to partner with Boeing for our first airplane order and thank them for their trust and confidence in Akasa Air's business plan and leadership team,” said Vinay Dube, CEO, Akasa Air. “We believe that the new 737 MAX airplane will support our aim of running not just a cost-efficient, reliable and affordable airline, but also an environmentally friendly company with the youngest and greenest fleet in the Indian skies.”

The 737 MAX airplanes reduce fuel use and carbon emissions by at least 14 percent compared to airplanes it replaces, the Boeing statement added.

“We are honoured that Akasa Air, an innovative airline focused on customer experience and environmental sustainability, has placed its trust in the 737 family to drive affordable passenger service in one of the world's fastest-growing aviation regions,” said Stan Deal, Boeing Commercial Airplanes president and CEO. “The 737 MAX, with its optimised performance, flexibility and capability, is the perfect airplane to establish Akasa Air in the Indian market and ensure it effectively grows its network.”