InvestorQ : Can you tell me about the huge aircraft order placed by Rakesh Jhunjhunwala?
Rutuja Nigam made post

Can you tell me about the huge aircraft order placed by Rakesh Jhunjhunwala?

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2 weeks ago
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Actually, it is Akasa Air backed by ace investor Rakesh Jhunjhunwala that has placed orders for 72 Boeing 737 Max aircraft. This is the same aircraft that was in controversy after the series of accidents globally. Akasa Air is positioned as an ultra-low cost airline and the airline is expected to be launched somewhere in the middle of 2022.

The total aircraft deal is worth $9 billion and marks the biggest order for Boeing from India. For a long time, Indigo has bene a loyal buyer of Airbus aircraft. Now Akasa plans to induct 20 aircraft in the next one year and the balance over next 5-7 years. Akasa is also in talks with lessors for a sale and leaseback arrangement, the normal airline industry model.

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