Akasa Air, led by its CEO Vinay Dube, is well-capitalised and has sufficient funds to place a substantial aircraft order by the end of this year. Dube expressed optimism about the airline’s growth potential, stating that they have exceeded their expectations in their first year of operation. Currently, Akasa Air operates 19 aircraft, with plans to induct the 20th aircraft this month, which will enable them to commence international operations.
Dube emphasised that the airline is adequately funded and capable of ordering an additional three-digit number of aircraft in the near future. While he did not provide specific financial details, Akasa Air has already placed orders for 76 Boeing aircraft, and they recently added four more planes to their order.
In a highly competitive Indian aviation market, with players like IndiGo and Air India aggressively expanding, Dube asserted that Akasa Air’s focus is on long-term sustainability rather than short-term growth. He envisions the airline operating with 76 aircraft by March 2027, serving both domestic and international routes, and prioritising exceptional customer service.
Aviation industry entering a ‘Golden Era’
Dube believes that the aviation industry is entering a “golden era,” with an anticipated increase in the number of aircraft and airports in the next 15 to 20 years. Akasa Air is positioned to capitalise on this growth. Dube pointed out that due to their smaller size, their growth percentages may appear higher, but the airline aims to expand at a sustainable pace.
Once Akasa Air reaches a fleet size of 20 aircraft, it will become eligible to operate international flights. However, Dube explained that air traffic rights and airport slots need to be finalized before initiating international operations. Despite the challenges, Dube expressed satisfaction with the airline’s progress and highlighted their achievement of rapidly growing from zero to 19 aircraft within a short span of time.
Akasa Air is also focused on expanding its workforce and anticipates employing 3,500 individuals by the end of 2023. Dube expressed confidence in the government’s commitment to infrastructure development, expecting that it will keep up with the increasing demand for air travel.