Boeing revealed its first huge order at a major air show in Dubai on Tuesday, Nov. 16, announcing that India’s new carrier Akasa Air had bought 72 of its 737 Max jets.
According to a statement from Boeing, the order is worth roughly $9 billion at list prices “the new Indian carrier has ordered (72) 737 MAX airplanes to build its fleet.”
France 24 reported Akasa Air had ordered two 737 MAX models, the 737-8 and the high-capacity 737-8-200, from Boeing.
The airline’s CEO, Vinay Dube, said, “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.”
“India is one of the fastest-growing aviation markets in the world with an unparalleled potential. We are already witnessing a strong recovery in air travel, and we see decades of growth ahead of us.”
The order was backed by billionaire investor Rakesh Jhunjhunwala comes months after India’s air safety regulator allowed the MAX jet permission to fly, ending a nearly two-and-a-half-year regulatory ban following two tragic crashes within five months that killed 346 people, Reuters reported.
Jhunjhunwala, dubbed “India’s Warren Buffett,” has teamed up with former CEOs of India’s biggest carrier, IndiGo, and Jet Airways (JET.NS) to focus on domestic air travel demand.
Almost 370 planes remain in inventory, and Boeing CEO David Calhoun has stated that selling them all will take two years.