Akasa Air is well-capitalized, path to profitability intact: CEO Dube
Subscribe to enjoy similar stories. Akasa Air, the country's youngest airline, remains well-capitalized, and it has more cash than when it started commercial operations in August 2022, according to Akasa Air chief executive officer Vinay Dube. According to an executive privy to the development, this comes even as the airline nears closing a $120-million infusion of funds from a clutch of investors such as the family offices of billionaires Azim Premji and Ranjan Pai.
"We can't comment one way or the other (on capital raising plans)," Akasa Air's CEO Dube said in an interview with Mint on Thursday. “We are ecstatic with our financial performance, and Akasa is well capitalised," he said. Also Read | Section of Akasa Air pilots seeks detailed DGCA audit “We should have another fantastic year (2025) demand is extremely strong.
By the end of the next fiscal year (2025 or 2026), we will have yet another year where Akasa will continue to be India's fastest-growing airline," said Dube. Dube started as an operations research analyst with American Airlines, the world’s largest airline by fleet size, followed by a decade-long stint with Delta Air Line. In 2017, he took over as CEO of Jet Airways, only to leave the firm in May 2019, a month before the airline stopped flying because of the financial crunch.
Subsequently, he also served as the CEO of GoAir for six months. Earlier this week, the bankruptcy court decided to distribute GoAir's assets after it had done the same to Jet Airways last year. Also Read | Pilot exodus at Akasa Air sparks controversy, airline denies lax training, safety standards Dube declined to share the airline's financials but said the company had grown in "high double digits" in 2024 and is the country's
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