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Budget airline Akasa Air on Tuesday announced that it has successfully completed the strategic investment transactions initially revealed on February 6.
“The closure follows the receipt of all requisite regulatory approvals. The airline welcomes its new investment partners to the Akasian family, marking a significant milestone in its growth journey,” Akasa Air stated in a press release.
The investors include Premji Invest, 360 ONE Asset, and the investment office of Dr. Ranjan Pai, alongside an additional capital infusion from the Jhunjhunwala family, who are existing investors in Akasa Air.
Vinay Dube, Founder and CEO of Akasa Air, said, “We warmly welcome our new investors to the Akasian family and deeply appreciate their confidence in our team. Their support affirms our vision and strengthens our ability to scale sustainably while keeping customers and employees at the heart of our operations. We remain especially grateful to the Jhunjhunwala family for not just helping us take flight but for their continued belief in our dream to redefine air travel in India. We are also thankful for the support extended to us by the Ministry of Civil Aviation.”
The funds are expected to accelerate the airline’s roadmap to rank among the top 30 airlines globally by the end of this decade and contribute to India’s emergence as a global aviation hub.
Dube added, “In just three years, Akasa Air has demonstrated that rapid growth is possible with discipline, purpose, and heart. With over 20 million passengers flown and a proven record of operational excellence, we are building an airline that India can be proud of and is poised to set new standards in global aviation.”
According to the company, these investments will be directed toward expanding operations, enhancing customer experience, and investing in safety, reliability, and advanced technology.
Manoj Jaiswal, Partner – Industrials & Buyouts at Premji Invest, commented, “We are excited to partner with Akasa, India’s fastest-growing airline, in its next phase of growth. We believe the Indian aviation industry has strong growth potential, both domestically and beyond. Team Akasa is brilliantly positioned to execute on this opportunity.”
Shyam Powar, Chief Investment Officer at Claypond Capital, remarked, “What excites us is not just the scale of the opportunity, but the passion and purpose with which the team is building this airline. We are proud to support Akasa and look forward to helping them build a world-class airline from India.”
Akasa Air recently marked three years since its inaugural flight on August 7, 2022. The airline has achieved operational and financial momentum, carrying over 20 million passengers and growing its fleet to 30 aircraft.
Umesh Agrawal, Fund Manager at 360 ONE Asset, said, “We are elated to partner with Akasa Air at a time when India’s aviation sector is poised for tremendous growth. This investment will support Akasa Air’s mission to build a customer-centric airline.”
In FY25, the airline recorded strong revenue growth and margin improvement, driven by disciplined cost management, higher unit profitability, and strategic network expansion.
Akasa Air has also announced the acceleration of its international network with a foray into Southeast Asia, including operations to Phuket, strengthening its presence in the region and laying the groundwork for further expansion across SAARC and ASEAN markets.
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