Akasa Air Signs Second Sale And Leaseback Agreement With BOC Aviation For Three Boeing 737-8200 Aircraft

Mumbai: Akasa Air has moved to further accelerate its fleet expansion, signing a second sale-and-leaseback agreement with global aircraft lessor BOC Aviation Limited for an additional three Boeing 737-8200 aircraft. The three aircraft, scheduled for delivery by the end of 2026, will take the total number of Akasa’s BOC-leased aircraft to six frames.

Previous transaction & engines

Akasa Air already operates three Boeing 737-8 aircraft sourced from BOC Aviation under a previous transaction executed in November 2023. The newly ordered high-density Boeing 737-8200 jets will all be powered by CFM LEAP-1B engines.

For Akasa Air, utilizing a sale-and-leaseback mechanism is a standard industry practice to maintain an asset-light balance sheet while securing predictable aircraft induction timelines. The strategy allows the airline to unlock liquidity by selling its delivery slots to the lessor and subsequently leasing the aircraft back to operate them.

Akasa Air executive statement

Akasa Air’s chief of governance and strategic acquisitions said, "This agreement aligns with our disciplined approach to scaling the airline through a modern, fuel-efficient fleet while maintaining capital efficiency, financial flexibility, and long-term operational resilience."

The Boeing 737-8200 – a variant specifically designed to maximise seating capacity for low-cost carriers while lowering per-seat operational costs – remains central to Akasa Air's regional and international ambitions.

BOC Aviation’s chief commercial officer Paul Kent said, "The Boeing 737-8200 on which it is centering its fleet development remains one of the world's most popular single-aisle jets, demonstrates industry-leading fuel efficiency and is a cornerstone of our orderbook."

The three additional leased aircraft will augment Akasa Air’s massive standalone orderbook. The Mumbai-headquartered airline has committed to a total of 226 Boeing 737 MAX family aircraft as it aggressively scales up domestic market share and expands its footprint into international destinations across the Middle East and Southeast Asia.