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

Economic Times   Akasa Air   the firm  

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.

In Feb 2025, Akasa Air had attracted about USD 125 M from 360 ONE, Claypond Capital, Dovetail Global Fund, PremjiInvest, Rare Enterprises, Volrado Ventures and others.For FY25, Akasa Air had reported about Rs.4,583 Cr in Operating Income and about Rs.1,983 Cr in Net Loss.