Irish aircraft leasing company to purchase & leaseback 5 Boeing 737 with Akasa Air

NEW DELHI: Dublin-based commercial aircraft leasing company, Griffin Global Asset Management, will purchase and leaseback five Boeing 737-8 aircraft with billionaire investor Rakesh Jhunjhunwala’s upcoming Akasa Air. The aircraft deliveries are scheduled to begin in this month and will include Akasa Air’s first several aircraft.
The budget airline has placed an order for 72 B737 Max powered by CFM LEAP-1B engines.Once it gets the first aircraft this month, Akasa will conduct proving flights — the final step getting before getting the air operator certificate (or licence) from the Directorate General of Civil Aviation. Once that happens, the airline can start scheduled commercial flights by next month. The airline hopes to have a fleet of 20 aircraft by next summer and be eligible to fly abroad.
Akasa founder, MD & CEO Vinay Dube said: “We are pleased to have Griffin as our partners in growth as we embark on our aviation journey. The high degree of confidence and endorsement from the Griffin team is a testimony to Akasa Air’s robust and sustainable future.”
Griffin’s CEO Ryan McKenna said: “We were introduced to Akasa Air’s management team over a year ago and have watched with excitement as they skill-fully built the airline from the ground up. We are honoured to enter into this long-term relationship right from Akasa’s launch. They have developed a business strategy that addresses a need in the market and assembled a very impressive team to execute that plan.”