Akasa air

Late billionaire Rakesh Jhunjhunwala-backed Akasa Air is reportedly looking to raise $75-100 million via fresh equity. As per updates, by offering these fresh shares, Akasa Air is looking at expanding its business. According to a report in the Economic Times, Akasa Air will use funds to make pre-delivery payments for its fleet. The idea behind this is to expand the airlines business in a fast-evolving Indian aviation space. The report adds that Akasa Air had already placed an order for 72 Boeing 737 Max and out of these, 19 have been delivered as per the agreement. For this business, the airline had also reportedly reached out to potential investors, PE firms and high net-worth individuals. “The capital infusion is based on a $650 million valuation for the airline,” the publication was quoted as saying. A US-based hedge fund PAR Capital Management, at present, reportedly holds about 6 per cent stake in the Jhunjhunwala-backed airlines. Since the entity already has some stake in it, the publication mentions that there is a likelihood for this hedge fund to subscribe to more shares. While the fundraising will focus on generating and expanding business, it may also end up diluting the stake of the Jhunjhunwala family, ET adds. At present, the family owns about 46 per cent in Akasa Air through a trust. “The trust is unlikely to participate in this round of funding but even after the dilution will retain a substantial stake. The aviation sector is on a boom and the value of Aka...

Synopsis Akasa Air wants to use the fund to make pre-delivery payments for its order of 72 Boeing 737 Max jets, for which 19 have already been delivered. The airline has reached a $650m valuation and may include existing investor, US-based hedge fund PAR Capital Management. The stake of the Jhunjhunwala family, which holds a 46% share in the airline through a trust, could be diluted due to the fundraising. The fundraising is likely to dilute the stake of the Jhunjhunwala family, which holds around 46% in the airline through a trust. While the potential extent of the dilution couldn't be determined, a person aware of the details said the trust will remain the largest shareholder. "The trust is unlikely to participate in this round of funding but even after the dilution will retain a substantial stake. The aviation sector is on a boom and the value of Akasa with strong financials and led by professionals will only rise," he said. One of the people cited above said the Jhunjhunwala family has a right of first refusal on any equity fundraising that Akasa plans. A spokesperson for Akasa Air called this speculation and refused to comment further. Utpal Seth, senior partner and CEO of Rare Enterprise - Jhunjhunwala's investment outfit, and PAR Capital didn't respond to queries. Akasa Air started operation last year and has been able to use the startup advantage to design a low-cost structure with reduced lease rents, and easy availability of pilots in the aftermath of Covid.A sec...

As India’s newest and youngest airline, Akasa Air is here to make your flying experience memorable! Warm & efficient customer service, reliable operations, and affordable fares are the cornerstones of our brand promise. This promise is powered by our youthful personality, employee-centric philosophy, a tech-led approach, and a culture of service. Not just flight bookings, you can also book a car, hotel, add-ons, or a meal, and enjoy the Akasa experience. To know more, read ‘ Why fly with Akasa’ here. With Akasa Air, long sign-up forms are a thing of the past. Booking with us is quick, easy, and seamless. Create an account To book a flight with us, just follow the simple steps mentioned below: • Visit the Akasa Air website or log in to your account through our mobile app • Enter your departure and travel details (one-way or round trip). The flight and fare options will be displayed on your screen • Choose from our range of Add-Ons including your favourite meals • Update passenger(s) information • Choose your preferred payment option, and you are ready to fly Akasa

At the 2021 Dubai Airshow, Akasa Air CEO Vinay Dube said, "We are delighted to partner with Boeing for our first airplane order and thank them for their trust and confidence in Akasa Air's business plan and leadership team. We believe that the new 737 MAX airplane will support our aim of running not just a cost-efficient, reliable and affordable airline, but also an environmentally friendly company with the youngest and greenest fleet in the Indian skies." Dube added, " India is one of the fastest-growing aviation markets in the world with an unparalleled potential. We are already witnessing a strong recovery in air travel, and we see decades of growth ahead of us. Akasa Air's core purpose is to help power India's growth engine and democratize air travel by creating an inclusive environment for all Indians regardless of their socio-economic or cultural backgrounds." Akasa Air's order includes two variants from the 737 MAX family, the 737-8 and the high-capacity 737-8-200. Providing the lowest seat-mile costs for a single-aisle airplane as well as high dispatch reliability and an enhanced passenger experience, the 737 MAX will ensure Akasa Air has a competitive edge in its dynamic home market. "We are honored that Akasa Air, an innovative airline focused on customer experience and environmental sustainability, has placed its trust in the 737 family to drive affordable passenger service in one of the world's fastest-growing aviation regions," said Stan Deal, Boeing Commercia...

Akasa Air, India’s India's newest airline, co-founded by late billionaire investor Rakesh Jhunjhunwala, is looking to raise $75-100 million by offering fresh shares to expand its business, according to a news report. Founded in December 2021, Akasa Air wants the money to make pre-delivery payments for aircraft, according to a report by the Economic Times quoting sources. The Mumbai-based airline ordered 72 Boeing 737 Max, of which 19 have been delivered. Akasa Air’s first commercial flight started on August 7, 2022 between Ahmedabad and Mumbai. Jhunjhunwala passed away a week later. The move to raise funds will see the Jhunjhunwala family's 46 per cent stake in the airline diluted. The family holds this stake through a trust and despite the potential dilution, it will remain the largest shareholder. Citing sources the report said, "The trust is unlikely to participate in this round of funding but even after the dilution will retain a substantial stake. The aviation sector is on a boom and the value of Akasa with strong financials and led by professionals will only rise." The airline, which commenced operations less than a year ago, has reached out to potential investors, including PE firms and high-net-worth individuals, for raising capital. Any infusion of capital will be based on a $650-million valuation. US-based hedge fund PAR Capital Management is one of the names doing the rounds and may subscribe to the shares to add to its existing 6 percent stake in the low-cost a...

Late billionaire Rakesh Jhunjhunwala-backed Akasa Air is reportedly looking to raise $75-100 million via fresh equity. As per updates, by offering these fresh shares, Akasa Air is looking at expanding its business. According to a report in the Economic Times, Akasa Air will use funds to make pre-delivery payments for its fleet. The idea behind this is to expand the airlines business in a fast-evolving Indian aviation space. The report adds that Akasa Air had already placed an order for 72 Boeing 737 Max and out of these, 19 have been delivered as per the agreement. For this business, the airline had also reportedly reached out to potential investors, PE firms and high net-worth individuals. “The capital infusion is based on a $650 million valuation for the airline,” the publication was quoted as saying. A US-based hedge fund PAR Capital Management, at present, reportedly holds about 6 per cent stake in the Jhunjhunwala-backed airlines. Since the entity already has some stake in it, the publication mentions that there is a likelihood for this hedge fund to subscribe to more shares. While the fundraising will focus on generating and expanding business, it may also end up diluting the stake of the Jhunjhunwala family, ET adds. At present, the family owns about 46 per cent in Akasa Air through a trust. “The trust is unlikely to participate in this round of funding but even after the dilution will retain a substantial stake. The aviation sector is on a boom and the value of Aka...

As India’s newest and youngest airline, Akasa Air is here to make your flying experience memorable! Warm & efficient customer service, reliable operations, and affordable fares are the cornerstones of our brand promise. This promise is powered by our youthful personality, employee-centric philosophy, a tech-led approach, and a culture of service. Not just flight bookings, you can also book a car, hotel, add-ons, or a meal, and enjoy the Akasa experience. To know more, read ‘ Why fly with Akasa’ here. With Akasa Air, long sign-up forms are a thing of the past. Booking with us is quick, easy, and seamless. Create an account To book a flight with us, just follow the simple steps mentioned below: • Visit the Akasa Air website or log in to your account through our mobile app • Enter your departure and travel details (one-way or round trip). The flight and fare options will be displayed on your screen • Choose from our range of Add-Ons including your favourite meals • Update passenger(s) information • Choose your preferred payment option, and you are ready to fly Akasa

Synopsis Akasa Air wants to use the fund to make pre-delivery payments for its order of 72 Boeing 737 Max jets, for which 19 have already been delivered. The airline has reached a $650m valuation and may include existing investor, US-based hedge fund PAR Capital Management. The stake of the Jhunjhunwala family, which holds a 46% share in the airline through a trust, could be diluted due to the fundraising. The fundraising is likely to dilute the stake of the Jhunjhunwala family, which holds around 46% in the airline through a trust. While the potential extent of the dilution couldn't be determined, a person aware of the details said the trust will remain the largest shareholder. "The trust is unlikely to participate in this round of funding but even after the dilution will retain a substantial stake. The aviation sector is on a boom and the value of Akasa with strong financials and led by professionals will only rise," he said. One of the people cited above said the Jhunjhunwala family has a right of first refusal on any equity fundraising that Akasa plans. A spokesperson for Akasa Air called this speculation and refused to comment further. Utpal Seth, senior partner and CEO of Rare Enterprise - Jhunjhunwala's investment outfit, and PAR Capital didn't respond to queries. Akasa Air started operation last year and has been able to use the startup advantage to design a low-cost structure with reduced lease rents, and easy availability of pilots in the aftermath of Covid.A sec...

• Vinay Dube ( • (Co-founder) Website .akasaair .com Akasa Air, a brand of SNV Aviation Private Limited, The airline began commercial operation with its first flight service from History [ ] During March 2021, reports surfaced that Vinay Dube the former CEO of In July 2021, India billionaire trader Logo and livery [ ] On 22 December 2021, the airline unveiled its brand identity and logo, with the tagline It's Your Sky. The symbol 'rising A' a part of their Commencement of operation [ ] On 7 July 2022, the airline received its Air Operator Certificate (AOC) from On 7 August 2022, the airline operated its first commercial flight between The airline started another route, between Data Breach [ ] On 25 August 2022, Akasa Air suffered a data breach. The airline on 28 August 2022 reported to the CERT-In that user information limited to names, gender, email addresses and phone numbers may have been viewed by unauthorized individuals however no travel-related information, travel records or payment information was compromised. Destinations [ ] As of May2023 Akasa Air Fleet Aircraft In service Orders Passengers Notes 19 — 189 174 — 53 TBA Total 19 53 Fleet Development [ ] On 16 November 2021, Akasa Air ordered 72 Boeing 737 MAX aircraft valued at nearly $9 billion in list prices at the Services [ ] Being a low cost airline, Akasa Air operates an all economy configuration in their Akasa Air has partnered with Blue Ribbon Bags (BRB), providing delayed luggage protection services. It o...

Akasa Air, India’s India's newest airline, co-founded by late billionaire investor Rakesh Jhunjhunwala, is looking to raise $75-100 million by offering fresh shares to expand its business, according to a news report. Founded in December 2021, Akasa Air wants the money to make pre-delivery payments for aircraft, according to a report by the Economic Times quoting sources. The Mumbai-based airline ordered 72 Boeing 737 Max, of which 19 have been delivered. Akasa Air’s first commercial flight started on August 7, 2022 between Ahmedabad and Mumbai. Jhunjhunwala passed away a week later. The move to raise funds will see the Jhunjhunwala family's 46 per cent stake in the airline diluted. The family holds this stake through a trust and despite the potential dilution, it will remain the largest shareholder. Citing sources the report said, "The trust is unlikely to participate in this round of funding but even after the dilution will retain a substantial stake. The aviation sector is on a boom and the value of Akasa with strong financials and led by professionals will only rise." The airline, which commenced operations less than a year ago, has reached out to potential investors, including PE firms and high-net-worth individuals, for raising capital. Any infusion of capital will be based on a $650-million valuation. US-based hedge fund PAR Capital Management is one of the names doing the rounds and may subscribe to the shares to add to its existing 6 percent stake in the low-cost a...