Akasa Air Secures $125M Funding to Fuel Global Expansion

Akasa Air (QP, Mumbai International) has completed a major funding round launched in February 2025, securing new backing to strengthen its growth strategy and long-term ambitions. The airline aims to be among the world’s top 30 carriers by the end of the decade.

According to Business Standard, investors including Premji Invest, 360 ONE Asset, and Claypond Capital, along with additional contributions from the Jhunjhunwala family, have injected about USD 125 million into the carrier. While an Akasa Air spokeswoman declined to confirm the exact amount or the size of the equity stakes, she emphasized that the focus is on the strength of the partnerships and the financial stability they provide for the airline’s expansion.

In March 2025, entities linked to Claypond Capital owner and Manipal Group chairman Ranjan Pai and 360 ONE Asset sought approval from the Competition Commission of India to acquire stakes in Akasa parent company SNV Aviation. Reports at the time valued Akasa Air at approximately USD 350 million, with investors expected to commit around USD 100 million.

The carrier had earlier outlined plans to raise up to INR 84 billion (USD 965 million) through equity and debt by 2027. The fresh investment will support Akasa Air’s ambitious fleet growth, which targets an expansion from 30 aircraft today to 226 by 2032. Its current fleet includes 23 Boeing 737-8s and seven Boeing 737-8-200s, with 196 additional aircraft on order, including Boeing 737-10s.

Since launching in August 2022, Akasa Air has expanded to 28 airports across six countries, including the UAE, Saudi Arabia, Kuwait, Thailand, and Qatar.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com