Akasa Air buys engines worth $4.5 billion for new 737 Maxs

DUBAI, United Arab Emirates (AP) — India’s startup Akasa Air has announced it’s choosing CFM International’s LEAP-1B turbofan engines to power its newly bought Boeing 737 Max jets, a deal valued at some $4.5 billion. The companies on Wednesday struck the agreement, which includes spare engines and long-term servicing, at the Dubai Air Show, the five-day trade expo underway in the United Arab Emirates’ commercial hub. Chicago-based aviation giant Boeing Co. scored its first major sale of the show on Tuesday, clinching a deal with Akasa Air, a new budget carrier backed by Indian billionaire Rakesh Jhunjhunwala, to sell 72 Maxs for some $9 billion.