Akasa Air, which finds itself in a notably dynamic phase, has secured government approval to commence flights to Riyadh, Jeddah, Doha, and Kuwait, and is anticipating the launch of international services in the near future, according to its CEO, Vinay Dube.
The airline recently marked its first anniversary in August and currently operates a fleet of 20 Boeing 737 MAX aircraft, with two additional planes expected to join the fleet by year-end.
Akasa Air’s robust growth phase
Dube emphasised that Akasa Air is in a robust growth phase, fortified by its sound financial position, and he revealed plans to announce a substantial triple-digit aircraft order within the next 75 days or by the year’s end. He stated, “We have just been given traffic rights for Riyadh, Jeddah, Doha, and Kuwait. The process will take time… we will let the process unfold. We continue to be in a very, very exciting phase in our lives now. We are doing well financially. We have a good cash position.”
The civil aviation ministry has granted the airline rights to operate flights to Riyadh, Jeddah, Doha, and Kuwait. However, the initiation of international operations necessitates collaboration with foreign governments, and as a result, the timeline for commencing the first international flight remains uncertain. Dube commented, “The Indian government is extremely efficient, but then we have to work with various foreign governments, (in) three different countries. Timelines for approvals from these countries will vary… It is soon enough.”
700 weekly flights across 16 cities
Presently, Akasa Air operates around 700 weekly flights and serves 16 cities. In September, the airline carried 5.17 lakh passengers and maintained a domestic market share of 4.2 percent. Addressing rumors of funding issues, Dube clarified that the airline is cash flow positive and has no immediate need for funding. He also dispelled speculations about the Jhunjhunwala family departing, affirming their long-term investment commitment to the airline.
The airline faced pilot-related challenges recently, including the abrupt departure of some pilots without adhering to notice periods, leading to the cancellation of several scheduled flights. Akasa Air has taken legal action against the pilots involved, and Dube confirmed that the matter has been resolved, emphasizing the company’s focus on growth.
India boasts one of the world’s most rapidly expanding civil aviation markets, with domestic airlines placing significant orders for planes to support their expansion. In June, Akasa Air announced an order for four additional Boeing 737-8 jets, supplementing an existing order for 72 aircraft from Boeing. Consequently, Akasa Air is set to possess a total of 76 aircraft, encompassing 23 Boeing 737-8s and 53 Boeing 737-8-200s, primarily by mid-2027.