- BOC Aviation will lease three Boeing 737-8200 aircraft to Akasa Air.
- The aircraft are scheduled for delivery by the end of 2026.
- Akasa Air currently operates 38 Boeing 737 MAX aircraft and has 226 on order.
Singapore-based aircraft leasing major BOC Aviation has signed a second sale-and-leaseback agreement with Indian carrier Akasa Air for three Boeing 737-8200 aircraft, deepening a financing partnership as India’s aviation market continues its rapid expansion.
Under the agreement, BOC Aviation will purchase and lease back the three aircraft to Akasa Air on long-term operating leases. All aircraft will be powered by CFM LEAP-1B engines and are scheduled for delivery by the end of 2026.
The latest transaction follows an earlier agreement between the two companies signed in November last year, underscoring Akasa Air’s aggressive fleet expansion strategy as it seeks to strengthen its domestic and international footprint.
Paul Kent, Chief Commercial Officer of BOC Aviation, said the deal reflects confidence in Akasa Air’s growth plans and in the long-term demand outlook for fuel-efficient narrow-body aircraft.
“Following our successful transaction last November, we are pleased to be executing a further agreement with Akasa as it builds its business in India and beyond,” Kent said. He added that the Boeing 737-8200 remains one of the world’s most popular single-aisle aircraft and continues to demonstrate strong fuel efficiency.
Akasa Air said the agreement aligns with its strategy of scaling operations through a modern and efficient fleet while maintaining financial discipline.
Priya Mehra, Chief of Governance and Strategic Acquisitions at Akasa Air, said the new transaction reflects the airline’s long-term growth ambitions and the strength of the Indian aviation sector.
“As a leading global aircraft lessor, BOC Aviation brings deep institutional expertise and a strong understanding of the evolving aviation landscape, making them an important strategic financing partner for Akasa Air,” she said.
The development comes at a time when Indian airlines are rapidly expanding fleets to capture surging passenger demand and growing international traffic. Aircraft leasing has emerged as a key financing tool for carriers seeking to preserve capital while accelerating expansion.
Akasa Air, which began operations in August 2022, has positioned itself as one of India’s fastest-growing airlines. The carrier has served more than 27 million passengers and currently operates 38 Boeing 737 MAX aircraft.
The airline has placed an order for 226 Boeing 737 MAX aircraft powered by LEAP-1B engines, one of the largest aircraft orders by an Indian airline in recent years. The airline says the aircraft offer lower fuel consumption, reduced carbon emissions and significantly lower noise levels.
Akasa Air currently operates flights to 27 domestic and seven international destinations, including Doha, Jeddah, Riyadh, Abu Dhabi, Kuwait City, Phuket and Hanoi.
BOC Aviation, listed on the Hong Kong Stock Exchange, is among the world’s leading aircraft operating leasing companies. As of March 31, 2026, the company had a portfolio of 813 owned, managed and on-order aircraft and engines leased to 88 airlines across 46 countries and regions.
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