Budget airline Akasa Air in talks to raise Rs.800-Cr in equity

Mumbai-based Akasa Air is looking to raise Rs.1,050-Cr through a mix of equity and debt. The airline is seeking Rs.800-Cr in equity from its existing owners and two new investors - one based in Asia and one in the United States - while also negotiating at least Rs.250-Cr in debt through an Indian government credit line.Founded in 2022 by Vinay Dube, the firm operates a fleet of 40 Boeing 737 MAX planes. It intends to use the capital to navigate increased operating costs, specifically rising jet-fuel prices, and to support its planned capacity expansion of 30% in the current financial year.