Akasa Air plans to list by end of the decade

25 Oct 2023 CW Team

Akasa Air, India's newest airline, is gearing up for international routes and intends to make a substantial aircraft order, with plans to go public on the stock market by the close of the decade, as revealed by its CEO, Vinay Dube, in a statement to PTI.

With just over a year in operation, Akasa Air currently manages a network of over 750 weekly flights connecting 16 domestic destinations, including major cities like Mumbai, Ahmedabad, Bengaluru, and Delhi. According to Dube, the airline is focused on "building a bit more track record" before launching its initial public offering (IPO).

The airline is scheduled to kick off international services by the end of the fiscal year and has already placed a confirmed order for 76 Boeing 737 MAX aircraft, which are slated to join its fleet by mid-2027. Presently, Akasa Air operates a fleet of 20 aircraft and is actively exploring the possibility of acquiring a triple-digit number of aircraft by the conclusion of 2023. Dube, who is the founder and CEO, emphasized that the airline is currently generating positive cash flow from its operations and is well-prepared for the upcoming aircraft procurement.

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