India’s newest airline, Akasa Air has entered into a sale and leaseback agreement for five Boeing 737-8 jetliners with Ireland based Griffin Global Asset Management (Griffin).
The announcement was made by Griffin, which stated that aircraft deliveries were slated to begin this month and include Akasa Air’s first several 737-8s.
Ryan McKenna, CEO, Griffin, said, “We were introduced to Akasa Air’s management team over a year ago and have watched with excitement as they skilfully built the airline from the ground up. We are honoured to enter into this long-term relationship right from Akasa’s launch. They have developed a business strategy that addresses a need in the market and assembled a very impressive team to execute that plan.”
Vinay Dube, Founder, Managing Director and CEO, Akasa Air, said the airline was pleased to have Griffin as its partner in growth and noted that the high degree of confidence and endorsement from the Griffin team was a testimony to Akasa Air’s robust and sustainable future.
Last month, Griffin had also announced the delivery of the Airbus A321neo to IndiGo. The aircraft was the first of five Airbus A321neo purchase and leaseback transactions for IndiGo. Deliveries were to take place over May-June.
A commercial aircraft leasing and alternative asset management business, Griffin has offices in Dublin, Ireland, Puerto Rico, and Los Angeles, CA.