Market Intelligence: -Airline Aircraft Orders

Boeing Appoints China President Effective September 1, 2023

The Boeing Company announced the appointment of Alvin Liu as president of Boeing China, effective September 1.

Liu has been serving in the role of president on an interim basis since July 10, following the announcement that his predecessor, Sherry Carbary, plans to retire later this year, concluding a distinguished, 34-year career at Boeing.

In his new role, Liu will be responsible for developing and implementing Boeing’s growth and partnership strategies in one of the company’s largest commercial markets. He will be based in Beijing and report to Dr. Brendan Nelson AO, president of Boeing Global.

“China continues to be of critical importance to The Boeing Company and we are very fortunate to have Alvin lead our efforts here and build on the great partnership with our Chinese customers and other stakeholders,” said Dr. Nelson. “Alvin has a unique understanding and deep appreciation of this market based on more than 20 years of senior leadership experience here.”

Prior to his appointment as Boeing China president, Liu led the company’s Government Operations team in China where he oversaw relations with key officials and partners, as well as education and community-outreach programs, across the country.

“I am honored and excited for the opportunity to help expand on the incredible, 50-plus-year foundation of success and partnership that Boeing has built in China,” Liu said. “Nearly 8,500 new airplanes, and $550 billion in commercial services, will be needed over the next 20 years in China and I am committed to making sure our team is ready to support our customers and meet that demand.”

A native of Liaoning Province, Liu brings more than two decades of senior leadership experience in China to the position, including as vice chairman of Ford’s Greater China Operations, vice president and general counsel of Ford’s International Market Group, along with leadership roles at Chrysler and DaimlerChrysler AG.

The Boeing Company is celebrating the 50th anniversary of introduction of Boeing aircraft to China, which came after the historic visit by President Richard Nixon to China. Today, Boeing jets are a mainstay of China’s commercial air travel and cargo system. The country’s aerospace sector has a component role on every current Boeing commercial airplane model — the 737, 767, 777 and 787 Dreamliner.

Boeing activity in China contributes more than $1.5 billion annually in direct support of China’s economy, including procurement from Boeing’s extensive supply base, joint venture revenues, operations, training, and research and development investment.

Source: Boeing Press Release
Photo Credit: Boeing (shown as meta image)

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Indian Airline, Akasa Air, Achieves a Fleet Size of 20 New Aircraft within 12 Months of Commercial Operations

Indian low-cost carrier Akasa Air on 07 August, completed one year of commercial operations in the Indian skies. The airline operated its first commercial flight on 07 August 2022 from Mumbai to Ahmedabad, presenting an empathetic service culture, more affordable choices and greater connectivity to Indians, ushering in a new phase of growth for Indian aviation.

Fastest growing airline with unprecedented network and fleet expansion

With an initial fleet induction plan of adding one brand new aircraft every 15 days, Akasa Air has created the record of becoming one of the fastest growing airlines in the 120-year history of global aviation by virtue of achieving a fleet size of 20 new aircraft within 12 months of commercial operations. Further, the delivery of its 20th aircraft on 1 August 2023, makes Akasa Air the first airline in Asia to add the 737-8-200 variant of the Boeing 737 MAX aircraft to its rapidly expanding fleet. Akasa Air’s order book comprises 76 jets which include 23 737-8s and 53 737-8-200 airplanes. In addition, the airline remains fully committed to placing a three-digit aircraft order by the end of 2023.

The landmark addition of its 20th aircraft, heralds the next chapter of growth in the Akasa Air story, driving Akasa’s foray into international skies, and allowing the airline to showcase its unique and category re-defining service to the world. With this immense impetus to its growth plans, Akasa will get access to international flying opportunities as it prepares to commence international operations by December 2023.

In its first year of commercial operations, Akasa Air has already served 4.3 million passengers and crossed the milestone of operating over 900 weekly flights with a published network of 35 unique routes across 16 destinations. It has also carried over 25,000 tonnes of cargo across its network during this time.

In a short span of a year, Akasa Air has grown its market share from 0% to 4.9%, having registered a passenger load factor of over 84% since the start of operations, with a steadily growing record of close to 90% in the current financial year. While developing its operations, the airline has maintained a steadfast commitment to becoming India’s most dependable airline, evidenced with industry leading on time performance for several consecutive months of operations in 2023. 

Commenting on the milestone, Vinay Dube, Founder and CEO, Akasa Air, said, in part: “We feel extremely fulfilled to have successfully executed our ambitious and unprecedented scale-up over the last 12 months. As we have grown and delivered to our plans, Akasa Air has become the preferred carrier for an increasing number of travellers across the country.”

About Akasa Air  

Akasa Air is India’s newest and most dependable airline, offering warm and efficient customer service, reliable operations, and affordable fares – all in the Akasa Way. Akasa’s youthful personality, employee-centric philosophy, tech-led approach, and culture of service will make this commitment a reality for all Indians. The carrier launched its first commercial flight on 07 August 2022 to support the growing demand across India. With a commitment to being socially responsible, Akasa Air has placed a firm order of 76 Boeing 737 MAX airplanes, powered by CFM fuel-efficient, LEAP-1B engines. The 737 MAX family aircraft deliver superior efficiency in reducing fuel use and carbon emissions, fulfilling the airline’s promise of being an environmentally friendly company with the youngest and greenest fleet in the Indian skies. 

 Source: Excerpts from Akasa Air Press Release
Photo Credit: Akasa Air

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