Akasa Air will look at IPO in next 2-5 years, says CEO Vinay Dube

Akasa Air will look at an initial public offering in the next two to five years, its Founder and CEO Vinay Dube said on Wednesday and asserted that the airline will not chase “growth for the sake of growth”.

The airline, which started flying in August 2022, currently has a fleet of 30 planes.

Dube said the airline is cash-positive and that the “financials are progressing in a way we are pleased”.

According to him, the airline will look at an initial public offering in the next two to five years.

In August, Akasa Air said it had raised funds from investors, including Premji Invest and Claypond Capital, and that the investments would be utilised mainly to expand operations.

Dube was speaking at a session at the Aviation India and South Asia 2025 conference in the national capital.The airline’s domestic market share stood at 5.4 per cent in August, as per the latest official data.

In July, Akasa Air’s Chief Financial Officer Ankur Goel said the airline was improving its financial performance, expanding capacity and aiming to have 226 planes by the end of 2032.