Griffin, Akasa Air tie up for aircraft sale, leaseback


Aircraft leasing company Griffin Global Asset Management on Thursday announced an agreement with Akasa Air for purchase and leaseback of five Boeing 737 MAX aircraft.

Akasa Air has placed a firm order of 72 Boeing 737 MAX aircraft. Under a sale-leaseback arrangement, the aircraft owner sells the aircraft to the lessor, who then immediately leases the aircraft to the original owner. The tie-up allows airlines to maintain liquidity.

The airline aims to take delivery of its first aircraft later this month and begin services next month after receiving an air operator permit from the DGCA.

Akasa Air aims to induct 18 planes until March 2023, which will be used to connect metros with tier-2 cities.

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