Akasa targets place among op 30 airlines by 2030: CEO Dube

08 Aug 2024 CW Team

In a message celebrating Akasa Air?s second anniversary, Vinay Dube , Co-founder and CEO outlined the airline?s ambitious goal to be among the top 30 global airlines by the end of the decade. Since launching two years ago, Akasa has expanded to 22 domestic and five international destinations, carrying over 11 million passengers and operating more than 900 weekly flights.

Initially backed by approximately $35 million from billionaire investor Rakesh Jhunjhunwala and other investors, Akasa Air has achieved significant milestones. The airline now holds a 5% market share, surpassing SpiceJet, and has added 24 aircraft to its fleet?the fastest growth in market share and fleet size for any Indian airline since the sector opened to private players in the early 90s.

Dube highlighted that the airline had placed an initial order for 72 Boeing 737 Max aircraft, with an additional 4 added later, and a subsequent order for 150 more earlier this year. "Our landmark order this year positions us for rapid growth," Dube said. "We are the only Indian airline to achieve such a significant order book within 17 months of operation, reflecting our robust financial foundation."

Despite a slowdown in Boeing's aircraft production due to increased regulatory scrutiny following a January incident with an Alaska Airlines 737 Max 9 (a variant Akasa does not operate), Akasa has not received any new planes since February. Nevertheless, Dube assured that the airline's financial performance remains ahead of its business plan. ?We are well-capitalised with a strong financial foundation, and the future looks brighter than ever," he concluded.

(ET)

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..