Akasa Air ‘Well Capitalised’ And Poised For Rapid Growth In India's Aviation Market

Akasa Air, the newly announced airline venture in India, is set to make a strong entry into the country's aviation market. According to CEO Vinay Dube, the airline is "well capitalised" and has the potential for rapid growth in the coming years, PTI reported.

Next month, the airline will have flown for a full year, and according to Dube, "we have exceeded our expectations."

The carrier currently carries 19 aircraft, and the addition of the 20th aircraft this month will enable it to conduct international operations.

In 2023, it is projected that a three-digit aircraft order will be placed and that worldwide operations will begin.

The airline has ordered 76 Boeing aircraft. The carrier placed a second Boeing order for four aircraft last month.

Dube said that at Akasa Air, nothing being done that is short-term in nature, despite the fact that competition in the Indian aviation sector is escalating as a result of IndiGo and Air India placing sizable aircraft orders and pursuing aggressive growth plans.

On the future trajectory, Dube said that between now and March 2027, "we look like an airline with 76 aircraft, an airline that has a vibrant domestic market, an airline that has multiple international gateways that we fly to, will look like an airline that has the highest levels of customer service".

Official statistics show that in May, the carrier's domestic market share was 4.8%.

The chief of Akasa Air noted that the next 20 years will be the "golden era of aviation" and predicted that there will be more airports and about 2,000 planes in the country in that time.

Akasa Air will be qualified to conduct international operations once the airline has 20 aircraft in its fleet.

Regarding overseas operations, Dube stated that prior to finalising slots with the airports where it intends to operate, the necessary air traffic rights must first be in place.

"There's no airline in the 120-year history of global aviation that has gone from zero to 19 aircraft in the time span that we have gone through. We are very pleased with the progress we have made in the last year," Dube said.

Akasa Air anticipates having 3,500 workers thanks to increased hiring by the end of 2023.

Dube emphasised that the government is concentrating on improving the infrastructure and expressed confidence in its ability to keep up with the demand for air travel.