Akasa eyes 35 per cent network growth in FY24, international ops getting ready

2023-12-31 15:19:14

Akasa Air is looking at a 35 per cent growth in its domestic network in FY24, with its fleet strength going up to 26 aircraft, a 30 per cent rise by end of the fiscal. In the first year of its operations, the airline had reached the mark of 20 aircraft.

The airline connects 17 cities and is looking at starting international operations sometime around the first half of 2024 (January-June), Praveen Iyer, Co Founder and Chief Commercial Officer, Akasa Air told businessline.

In early 2024 calendar year, the airline will place a triple digit order, he said adding that Akasa will commence international operations in the first half of 2024.

First phase of international expansion will include Doha, Kuwait, Riyadh and Jeddah, he said.

Akasa Air was designated as an International Scheduled Operator by the Civil Aviation Ministry earlier this year.

“(We are) progressively adding more cities to our network. The airline today connects 17 cities and plans to end FY24 with 35 per cent growth in network and expand its fleet strength to 26 aircraft,” Iyer said.

The airline started its commercial operation in August 2022, and reached a fleet size of 20 aircraft within a year of its commencing operations as of August 2023. It has carried over 6.3 million passengers and connects with 17 cities across India, namely Mumbai, Ahmedabad, Bengaluru, Chennai, Kochi, Delhi, Guwahati, Agartala, Pune, Lucknow, Goa, Hyderabad, Varanasi, Bagdogra, Bhubaneswar, Kolkata and Port Blair.

In the beginning of 2023, The airline had a market share of 2.8 per cent, which grew to 4.2 per cent in November.

Orders Placed

Akasa Air has placed a “firm order” of 76 Boeing 737 MAX airplanes, powered by CFM fuel-efficient, LEAP-1B engines.

“We are also on course to announce a significant three digit aircraft order in early 2024 and are looking forward to the coming year as we expand our presence and step into the next chapter of our growth story,” Iyer said.

Speaking about the growth in the Indian aviation industry, he said that the industry “will continue to witness robust growth in the coming years.”