ST Engineering has finalized a 15-year deal with Akasa Air, providing engine MRO services for the airline’s Leap 1B-powered Boeing 737 MAX-family aircraft.
International markets are booming after the pandemic recovery, and many carriers are finding themselves short of capacity after retiring many older widebodies.
Akasa is looking to enter agreements for about $300 million in structured debt—a change of direction from its previous plans to issue substantial new equity.
Indian LCC Akasa Air announced an order for 150 Boeing 737 MAXs, further inflating the massive backlog of narrowbodies set to be delivered to Indian carriers.
Fortunes have differed widely for the handful of startup airlines that launched operations in the Asia-Pacific region in the wake of the coronavirus pandemic.