Akasa Air Gains Major Investment to Expand Fleet

Akasa Air, India's youngest airline, has secured fresh investments from prominent investors, including Azim Premji's investment arm, Ranjan Pai's family office, and the Jhunjhunwala family, to support its growth ambitions. While the exact amount raised is undisclosed, media reports suggest it ranges between $125 million and $140 million. The funds will be used to help Akasa Air expand its fleet, improve customer experience, and aim to become one of the top 30 global airlines by 2030. This capital infusion is seen as crucial for competing in India's aviation market, which is currently dominated by IndiGo and Air India. The investment agreements are pending regulatory approval, during which no further financial details will be disclosed. The Jhunjhunwala family, a major shareholder, has reiterated its commitment by contributing additional funds.