India’s newest airline, Akasa Air will stay focused on its growth plans. In a statement issued by the airline’s Founder CEO Vinay Dube, following the demise of billionaire investor Rakesh Jhunjhunwala, who had invested in the airline, he said the carrier is well-capitalised with the financial means to induct 72 new aircraft over the next five years.
“In fact, our financial platform is strong enough to allow Akasa Air to place an aircraft order in the next 18 months, that will be significantly larger than our first. In simple terms our growth is secure,” Dube said.
This is the first indication that Akasa Air is looking to place orders for more aircraft in the future. The new carrier is looking to establish a strong pan-India presence and provide linkages from metro to Tier-2 and Tier-3 cities nationwide as part of its network strategy.
The carrier recently inducted is the third Boeing 737 MAX aircraft in Delhi.
Akasa Air, a brand of SNV Aviation, started operations on August 7 and its first flight was on the Mumbai-Ahmedabad sector. The airline has already announced five destinations on its network – Mumbai, Ahmedabad, Bengaluru, Chennai, and Kochi.
Akasa Air has 72 single-aisle 737-8 and high-capacity 737-8-200s on order from Boeing and is slated to receive two aircraft every month. Its fleet size will grow to 18 aircraft by the end of 2023. From 2024, Akasa Air plans to induct 12-14 aircraft every year and will have taken delivery of all 72 aircraft on order by 2027.