Boeing gets order for 150 737 Max aircraft from India’s Akasa Air

Boeing has shed 15% of its market capitalization since the Jan. 5 failure—roughly $22 billion—starting the year with both a literal bang and a whimper. Akasa Air’s order of jets still represents a sorely needed boost for Boeing, though. Akasa Air will be banking on Boeing’s sustainable innovation to make a positive impression in India’s growing aviation market.

“The lower carbon emissions of the 737 Max family allow us to remain focused on sustainable operations, while also providing our environmentally conscious passengers with a more comfortable way to fly,” Akasa Air CEO and founder Vinay Dube said in a press release.

The ordered 737 Max jets will reduce fuel use and carbon emissions by 20% and produce 50% less noise compared to older generations of planes, according to Boeing. 

The addition of 150 Boeing planes will more than double Akasa Air’s fleet to 226 aircraft. Launched in 2022, Akasa Air makes up 4% of India’s market, according to India’s Directorate General of Civil Aviation. 

Aircraft sustainability efforts have flourished in the past few years. While Boeing’s efforts have attracted Akasa Air, it may not be enough to distinguish themselves from rival Airbus, which forms a global “duopoly,” as noted by Bank of America Research.

Everyone wants to be more sustainable

International Air Transport Association member airlines passed the Fly Net Zero resolution in October 2021, committing to reach net zero carbon status by 2050….