Airlines
Akasa Air Surprises its Competitors with Massive Aircraft Orders and Stock Market Plans
Akasa Air is currently dealing with a pilot shortage, which has impacted its flying operations significantly. Vinay Dube, the airline’s founder and CEO, stated that they have been actively raising their pilot numbers to address this issue. They had 330 pilots in April, and they now have almost 450 pilots.
Furthermore, 125-130 more pilots have contractually committed to joining the airline in the next 3-4 months, bringing their total pilot count to around 600 in the coming months. Akasa Air is making a proactive effort to hire ahead of time based on their needs, and their standard growth plan is being implemented, displaying their long-term vision for the company.
In addition to addressing their pilot shortage, Akasa Air has secured government approval to expand its overseas operations to Saudi Arabia, Kuwait, and Qatar. However, they will have to wait before starting flights to destinations in the United Arab Emirates, such as Dubai, because all possible bilateral agreements for this region have been exhausted.
Akasa Air also intends to go public before the end of the decade. The airline, which is only 14 months founded but already runs more than 750 weekly flights to 16 domestic locations, wants to gain more history and operating experience before conducting an initial public offering (IPO).
They have placed a large order for 76 Boeing 737 MAX aircraft, which will be added to their fleet by mid-2027. They now have a fleet of 20 aircraft, and they want to place an order for more aircraft in the three-digit range by the end of 2023 and listing on stock exchanges. Akasa Air’s ambition is to become a key participant in the Indian aviation business, with a strong local and international network and several operational bases.
While an IPO listing is something the company intends, Vinay Dube stated that it may not happen by 2027, and that they may need to accumulate more operational experience before proceeding with a listing. Nonetheless, it remains a priority for the airline’s future.
