Akasa Air posted an income $94.5 million with operating costs of $226.84 million which led to an operating loss of $73.18 million. Interestingly despite its loss the airline is come a long way since its operational launch in August 2022 by introducing new domestic routes and increasing its market share.
Within 11 months of its launch the airline the airline managed to captured a market share of 5% surpassing SpiceJet and added 19 aircraft bringing its total number to 72 Boeing 737 Max aircraft after an initial order.
Going ahead, chief executive and co-founder Vinay Dubey has hinted at an order of over 100 aircraft towards the end of this year. Speaking on the loss, Dubey added: “The loss can be easily absorbed and will not negatively affect the airline. I think we are adequately funded. We were adequately funded to order 72 aircraft. We are adequately funded to add 4 more aircraft on top of that were adequately funded to place another three-digit aircraft order between now and the end of this year.”
The airline will soon take delivery of its 20th aircraft, making it eligible to expand into the international market.
It’s also on track to becoming one of India’s greenest airlines by operating a fleet of all Boeing 737 MAX 8. Boeing claims that the aircraft powered by CFM International LEAP-1B engines that reduce CO2 emissions and fuel consumption by up to 20% compared to older 737NGs.