Akasa Air has agreed a sale-and-leaseback transaction with Avolon covering up to seven Boeing 737-8-200s, adding more aircraft of the high-density MAX variant to its fleet.
The agreement announced on August 14 is the third transaction between the Indian airline and the Dublin-based lessor. Avolon did not disclose financial terms or the delivery schedule for the seven aircraft.
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Under a sale-and-leaseback transaction, an airline sells aircraft it has ordered to a lessor and immediately leases them back. The arrangement allows the carrier to raise capital without giving up use of the aircraft and transfers their ownership to the leasing company.
Akasa currently operates 40 Boeing 737 MAX aircraft, including 17 737-8-200s. The remainder of the fleet consists of the standard 737-8.
The 737-8-200 is a higher-capacity derivative of the 737-8 developed primarily for airlines that use dense seating configurations. It incorporates an additional pair of emergency exits behind the wing to accommodate more seats while meeting evacuation requirements.
Akasa has one of the largest 737 MAX orderbooks among Indian airlines. Boeing's current order data lists 226 aircraft for the carrier, accumulated through three purchases.
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August 14, 2026
The airline placed its initial order for 72 MAX jets in 2021, followed by four more aircraft in January 2023. It then ordered another 150 in December 2023, taking the total to 226.
Not all of those aircraft will necessarily remain owned directly by Akasa. Transactions such as the latest agreement with Avolon allow lessors to finance aircraft from the airline's Boeing orderbook before leasing them back to the carrier.
Akasa began commercial operations in August 2022 and has built its fleet exclusively around the 737 MAX. The seven aircraft covered by the latest transaction will increase the presence of the 737-8-200 within that fleet as deliveries from its large Boeing backlog continue.
