Akasa Air Eyes Realistic IPO Between 2027 and 2030

Akasa Air, the Indian carrier founded in 2021, has revealed its cautious approach towards an initial public offering (IPO), stating that a listing on stock exchanges is a “much more realistic goal” by the end of the decade. The airline’s CEO, Vinay Dube, mentioned that an IPO is desired, but the company may need to accumulate more operational history before venturing into a public listing.

While Dube ruled out the possibility of an IPO before 2027, he emphasized that a listing is part of the airline’s future plans. Currently, only two scheduled carriers in India, IndiGo Airlines and SpiceJet, are listed. Previous attempts by Go First to stage an IPO were unsuccessful.

Akasa Air, which currently operates a fleet of nineteen B737-8s and one B737-8-200, recently crossed the twenty-aircraft threshold, granting it the ability to operate international flights. The airline is eyeing initial operations in the Middle East.

Dube reiterated the airline’s intention to place a three-digit aircraft order by the end of 2023. The carrier has 52 B737-8-200s and four B737-8s on order, expected to join the fleet by mid-2027. Despite the passing of key investor Rakesh Jhunjhunwala last year, Dube highlighted that the Jhunjhunwala family remains committed to Akasa Air for the long run, ensuring financial stability.

In terms of growth, Akasa Air is well-funded for its aircraft order, expecting two more deliveries before the end of the calendar year. The airline aims to conclude the current financial year with 25 aircraft and reach approximately 40 aircraft by the end of the following financial year.

As Akasa Air navigates its growth trajectory, stay tuned for updates on its fleet expansion, operational milestones, and eventual IPO plans in the coming years.