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

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

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)

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)

Next Story
Infrastructure Transport

Nod for Rs. 36.26 billion Expansion of Pune Metro Line 2

The Union Cabinet has approved the Rs.36.26 billion expansion of Pune Metro Line 2, adding 12.75 km of track and 13 new stations to improve east–west connectivity across the city.The project aims to link Pune’s urban core with rapidly growing suburbs, supporting the city’s rising demand for efficient and sustainable transport solutions. This expansion is part of Corridor 2 of the Pune Metro and includes two key routes: Vanaz to Chandani Chowk (Corridor 2A) and Ramwadi to Wagholi/Vitthalwadi (Corridor 2B).It will connect residential, IT, and educational hubs in areas such as Bavdhan, Koth..

Next Story
Infrastructure Transport

Assembly begins for ‘Nayak’ TBM on Thane– Borivali Twin Tunnel Project

The assembly of ‘Nayak’, the first of four Tunnel Boring Machines (TBMs) for the Thane–Borivali Twin Tube Tunnel Project, has commenced at the Thane site. Built by German firm Herrenknecht AG and deployed by Megha Engineering & Infrastructure (MEIL), the TBM marks a key milestone in Mumbai’s ambitious 11.8-km underground road corridor beneath Sanjay Gandhi National Park.The twin tunnels will reduce the Thane–Borivali travel distance by 12 km and decongest Thane Ghodbunder Road. ‘Nayak’, with a 13.2-metre diameter, is designed to bore through challenging geological conditions ..

Next Story
Infrastructure Transport

Maharashtra approves Rs.207.87 billion for Shaktipeeth expressway

The Maharashtra cabinet has approved Rs. 207.87 billion for land acquisition for the 802-km Shaktipeeth Expressway, which will connect Pavnar in Wardha district to Patradevi on the Maharashtra–Goa border.The corridor will pass through 12 districts, including Yavatmal, Nanded, Latur, Solapur, and Sindhudurg, and link with the Konkan Expressway. The expressway, aimed at enhancing religious tourism and regional connectivity, is expected to reduce travel time between Nagpur and Goa from 18 to 8 hours.It will connect major pilgrimage destinations such as Mahur, Tuljapur, Kolhapur, Ambajogai, Pand..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?