Akasa Air and CFM International today announced an agreement to purchase over 300 CFM LEAP-1B engines to power 150 Boeing 737 MAX airplanes. At list prices, the deal is valued at over $5 billion. The agreement also includes spare engines and a services contract.

The announcement was made in conjunction of French President Emmanuel Macron’s India visit.

Akasa Air launched its operations in August 2022. At the Wings India event last week, it announced the purchase of 150 737 Max 8 aircraft. Currently, it operates 22 737 Max 8 which are part of its original order of 76 aircraft.

“With CFM as our long-term engine maintenance provider, we remain confident in our path to becoming one of the top 30 leading airlines in the world, by the turn of this decade,” Akasa Air CEO Vinay Dube said in a statement.

The 150 aircraft ordered last week will be delivered between 2027-2032.

This new order grows CFM’s footprint in India, with more than 400 CFM-powered aircraft in service and 2,500 LEAP engines in the backlog. 

“Our customers, including Akasa, are seeing 15 to 20 per cent better fuel efficiency with their LEAP-powered fleets and it has the highest reliability and daily utilization rates in this thrust class,” said Gaël Méheust, president & CEO of CFM International. “Today’s order will continue to bring these benefits to Akasa and support their continued growth, as well as play an important role in India’s economic development.”