Akasa Air to partner Griffin for sale, leaseback of Boeing planes
Akasa Air has signed a contract with Irish leasing company Griffin Global Asset Management for sale and leaseback of five Boeing 737 Max aircraft, a statement said on Thursday.
Under sale and leaseback model, the airline sells its planes to a leasing company and then leases them back. This frees up the cash that the airline has spent in buying the aircraft.
Akasa Air had signed a deal with Boeing to purchase 72 Max aircraft on November 26, 2021, approximately three months after the Directorate General of Civil Aviation (DGCA) gave the green light to Max planes.
