The airline placed an order for 72 of these aircraft worth $9 billion at list price at the Dubai Air Show on Tuesday.
Aircraft deliveries will begin early next year, when the airline hopes to start flying.
Earlier this year, the Directorate General of Civil Aviation (DGCA) had cleared the Max to fly to, from, within and over India. As of now SpiceJet is the only Indian carrier that has the B737 Max but none of those planes are flying yet.
Akasa has got the vital no objection certificate from India, following which it will now apply for air operator permit from the DGCA and hopes to start flying next summer.
The proposed ultra low cost carrier (LCC), SNV Aviation Pvt Ltd that will fly under the brand name Akasa Air, is piloted by aviation veteran Vinay Dube who is its CEO.
Jhunjhunwala had recently met PM Modi in Delhi.
In a statement recently, the upcoming airline said it “plans to offer flights across India starting in the summer of 2022 with an endeavour to be the nation’s most dependable, affordable and greenest airline.”