NEW DELHI: Akasa Air is hopeful of becoming one of the top 30 airlines in the world by the turn of this decade, the airline said on Wednesday as it completed two years of operations. Akasa also said it is on a successful trajectory towards profitability and expects seat capacity to rise 50% on an annual basis this fiscal year.
“Akasa’s unwavering commitment to cost leadership, supported by operational and financial discipline, has set the airline on a successful trajectory toward profitability. In the last fiscal year, Akasa achieved a 300% growth in available seat kilometres (ASKM), setting a new record for airline growth that surpasses 122 years of global history,” the airline said.
It added, “With the strong financial foundation the airline has built, it anticipates a year-on-year increase of 50% in its available seat kilometers.”
The airline, which now has a market share of less than 5% in the domestic market, operated its first commercial flight on 07 August 2022 from Mumbai to Ahmedabad. Akasa now operates over 900 weekly flights across 22 domestic and five international destinations, achieving the milestone of serving over 11 million passengers in two years.
In January 2024, the airline announced a firm order of 150 aircraft to support its expansion plans. In March 2024, it became the first Indian airline to fly overseas in a record period of 19 months. Vinay Dube, founder & CEO, Akasa Air, said, “In this past year, we have been India’s leader in on-time performance while registering greater operational reliability, and lowest customer complaints, and cancellations in the industry.”