Akasa Air may in the next 18 months place an aircraft order that’s “significantly larger” than its first purchase of 72 Boeing planes.
“Akasa Air is a well-capitalized airline with the financial means to induct 72 aircraft over the next five years,” said co-founder and CEO Vinay Dube in a statement.
“In fact, our financial platform is strong enough to allow Akasa to place an aircraft order in the next 18 months that will be significantly larger than our first. In simple terms, our growth is secure,” he added.
Akasa’s biggest investor Rakesh Jhunjhunwala died last week. His family holds 45% in the airline through three trusts named after his children.
Dube said the airline’s healthy capitilization could be attributed “in no small part” to Jhunjhunwala.
“We are also thankful that Mr. Jhunjhunwala supported us in recruiting some of the best aviation talent in the country. He wanted us to have a top-notch leadership team that made all day-to-day decisions at the airline without having to fall back on him or any other investor. Anyone that saw him on our inaugural flight on August 7th knows how proud he was of each Akasa employee and partner. On our part, we couldn’t be prouder and more fortunate to have known him,” said Dube.
The airline, which recently started flying, received its third aircraft in Delhi on Tuesday, which will be put into operation on the Mumbai-Bengaluru sector shortly.
“We will continue to grow our fleet by adding one new aircraft every two weeks,” said Dube.
