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Akasa Air to power its fleet with CFM engines

The overall deal is estimated to be worth $4.5 bn

Akasa Air to power its fleet with CFM engines
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Akasa Air to power its fleet with CFM engines

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Mumbai: Ace investor Rakesh Jhunjhunwala-backed Akasa Air on Wednesday announced signing an agreement to purchase CFM LEAP-1B engines to power its Boeing 737 MAX airplanes and the overall deal is estimated to be worth $4.5 billion. The announcement comes a day after the upcoming ultra-low-cost carrier said it would buy 72 Boeing 737 MAX planes from Boeing Co.

With this purchase and services agreement, Akasa Airwill have from day one of its operations an innovative and comprehensive maintenance programme delivered by CFM, the airline said in a statement. The pact was signed with CFM at the ongoing Dubai Airshow. The deal includes spare engines and long-term service agreement.

At current exchange rate, the amount translates to more than Rs 33,000 crore,"We are pleased to partner with CFM International as we embark on an exciting journey to launch the greenest, most affordable and most dependable airline in India. Our partnership with CFM will ensure that we adhere to the world's highest standards of maintenance and deliver the industry's best technical dispatch reliability," Akasa Air CEO Vinay Dube said.

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