Akasa Air, backed by investor Rakesh Jhunjhunwala, orders 72 Boeing 737s

Chennai

Dubai: Low-cost airline Akasa Air placed an order for72 Boeing 737 MAX jets, a move that might help the US planemaker regain lostground in one of the world's most promising markets.

The orders by Akasa, which is backed by billionaire investorRakesh Jhunjhunwala, are incremental orders, a Boeing executive said onTuesday.

Last month, SNV Aviation, which owns Akasa Air, said itexpected to start flying next year after getting initial clearance from thecivil aviation ministry to launch the country's latest ultra-low-cost carrier.

Reuters reported in September that Boeing was close towinning an order for some 70 to 100 737 MAX jets from Akasa, pending separatetalks on a long-term engine service deal.

Air safety regulator in August allowed the country'sairlines to fly the MAX jet to end its nearly two-and-a-half-years ofregulatory grounding.

The 737 MAX was grounded worldwide in March 2019 after twofatal crashes in five months killed 346 people, plunging Boeing into afinancial crisis, which has since been compounded by the COVID-19 outbreak.