After Air India, Rakesh Jhunjhunwala's Akasa to place major order for aircraft

Backed by late investment mogul Rakesh Jhunjhunwala, affordable airline Akasa is just 200 days old now, and has already clinched more than 2.3 per cent of market share. India's former national carrier Air India is on track to buy 840 aircraft, and its domestic airlines have collectively ordered 1,100 airplanes. Now Akasa is also set to raise the bar by adding more narrow bodied aircraft to its fleet, with an eye on expanding horizons beyond domestic markets.

The young and emerging aviation player, currently has 17 Boeing 737 Max models carrying passengers, and will be receiving 72 jets by 2027. With a post-pandemic surge in domestic air travel, Akasa is set to place another order, which will be even larger. As per Indian aviation norms, Akasa needs a fleet of 20 aircraft to go international, and it will achieve that by adding three new airplanes in the next three months.

Aiming to become a rapidly growing airline in the world's fastest growing aviation market, Akasa hopes to fly to Southeast Asia and the Middle East by the end of 2023. It may strike gold as more than 18 million Indians had travelled abroad in 2022, and the demand is expected to surge further. The country's second busiest airport in Mumbai also clocked a 149 per cent rise in traffic for January.