Akasa Air Secures Strategic Investment

Investment Boost for Akasa Air

Akasa Air has secured investment agreements with prominent investors to raise new capital for the airline. This group includes some of the leading investors in India, such as Premji Invest, the global investment branch of Mr. Azim Premji, Claypond Capital, headed by Dr. Ranjan Pai, and managed funds from 360 ONE Asset, a top asset management company. Additionally, the Jhunjhunwala family has pledged further financial support for Akasa Air. The airline appreciates these investors’ faith in its mission and the Indian civil aviation sector. Akasa Air also expresses gratitude to the estate of Mr. Rakesh Jhunjhunwala for its ongoing support of the Akasa vision and operations. All investment agreements are pending regulatory approval.

The funds obtained will support Akasa Air’s goal of ranking among the top 30 airlines globally by the decade’s end. This will allow it to enhance its distinctive role in India’s development as an aviation hub. These investments will fuel Akasa Air’s ambitious growth strategies and reinforce its dedication to improving customer experiences through ongoing safety, reliability, and advanced technology investments. Additionally, they will promote international expansion and empower Akasa to fulfil its commitment to employees by creating a high-quality work environment for top talent.

Commenting on the announcement, Vinay Dube, Founder and CEO, Akasa Air said, “These are not just financial transactions, they are an investment in our vision and commitment to building an airline for generations. We are thankful to our marquee investors for placing their confidence in Akasa Air and its leadership and to the Jhunjhunwala family for their unwavering faith in the Akasian dream. These investment agreements will empower us to build on the future that every Akasian has envisioned – one that’s bright for each of us as well as for all of India, as we transform the way customers experience air travel.”

Ankur Goel, Chief Financial Officer, Akasa Air said, “At Akasa Air, there is nothing that we do for the short term. These strategic investments represent a pivotal milestone in our journey and ensure long-term financial stability, enabling us to continue building a sustainable, future-focused business. Akasa Air continues to be well-capitalised, and these investments allow us to secure enduring, sustainable growth, with a financial safeguard to weather any unexpected challenges, thus reinforcing our readiness for the future. The airline is proud to have earned the confidence of marquee investors, who have chosen to believe in our dream and join us in our journey towards actively shaping the future of Indian aviation”.

The investment transactions are now awaiting the necessary regulatory approvals.