Indian Economy News

Akasa Air, IndiGo, Air India place orders for 1,120 planes in less than one year

  • IBEF
  • January 19, 2024

The recent announcement by Akasa Air, placing an order for 150 aircraft, contributes to a notable upswing in aircraft acquisitions among Indian carriers, collectively reaching 1,120 planes within just under a year. In the dynamic landscape of the country's civil aviation market, 2023 witnessed significant milestones, with both Air India and IndiGo strategically expanding their fleets. Under the ownership of the Tata Group, Air India initiated this trend by ordering 470 planes in February last year, comprising 250 from Airbus and 220 from Boeing. Subsequently, in June, IndiGo, the largest airline in India, bolstered this momentum with an order from Airbus for 500 narrow-body planes.

The cumulative effect of these strategic moves sees Akasa Air, Air India, and IndiGo collectively securing orders for 1,120 planes since February of the previous year. Furthermore, existing orders and anticipated deliveries indicate that Indian carriers, notably led by IndiGo's substantial order book of nearly 1,000 planes, are poised to receive more than 1,600 aircraft in the coming years. This significant growth aligns with the projections of Civil Aviation Minister Jyotiraditya Scindia, who foresees the fleet size of Indian carriers expanding from 1,500 to 2,000 by 2030. These developments underscore India's position as one of the fastest-growing civil aviation markets globally.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.