Rakesh Jhunjhunwala’s Akasa airlines orders 72 aircraft from Boeing .

Rakesh Jhunjhunwala’s Akasa Airline has placed an order for 72 Boeing 737 MAX jets, valued at nearly $9 billion at list prices, the US plane maker has said.

“We are honoured that Akasa Air… has placed its trust in the 737 family to drive affordable passenger service in one of the world’s fastest-growing aviation regions,” Stan Deal, president and chief executive officer (CEO) of Boeing Commercial Airplanes, said in a statement.

“We are delighted to partner with Boeing for our first airplane order and thank them for their trust and confidence in Akasa Air’s business plan and leadership team,” Akasa Air CEO Vinay Dube said.

“India is one of the fastest-growing aviation markets in the world with an unparallelled potential. We are already witnessing a strong recovery in air travel, and we see decades of growth ahead of us.”

Akasa Air’s order includes two variants from the 737 MAX family, including the 737-8 and the high-capacity 737-8-200.

India needs for more than 2,200 new airplanes in South Asia valued at nearly $320 billion over the next 20 years, according to Boeing’s 2021 Commercial Market Outlook forecast

The order by Akasa Air comes months after the Directorate General of Civil Aviation (DGCA) allowed airlines to fly the MAX jet, ending its nearly two and a half years of regulatory grounding after two fatal crashes in five months killed 346 people.

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