Akasa Air Secures Fresh Investment to From Premji Invest, Ranjan Pai, 360 ONE Asset The airline aims to leverage these investments to accelerate its expansion plans, enhance customer experience, and drive innovation in aviation safety, reliability, and technology.

By Entrepreneur Staff

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Akasa Air - Company handout

Akasa Air has secured fresh capital from a consortium of marquee investors. The airline announced on Thursday that Premji Invest, the global investment arm of Azim Premji, Claypond Capital—the investment office of Dr. Ranjan Pai—and funds managed by 360 ONE Asset have signed investment agreements with Akasa Air. Additionally, the Jhunjhunwala family has pledged further capital infusion, reaffirming their continued support for the airline's growth strategy.These investment agreements are subject to regulatory approval, as per a company statement.

The newly secured funds will bolster Akasa Air's goal of becoming one of the top 30 airlines globally by 2030. The airline aims to leverage these investments to accelerate its expansion plans, enhance customer experience, and drive innovation in aviation safety, reliability, and technology. Additionally, the capital infusion will fuel international expansion while ensuring a strong work environment for employees, reinforcing Akasa Air's reputation as a preferred employer in the industry.

Vinay Dube, founder and CEO of Akasa Air, highlighted the significance of these investments, stating, "These are not just financial transactions, they are an investment in our vision and commitment to building an airline for generations. We are thankful to our marquee investors for placing their confidence in Akasa Air and its leadership and to the Jhunjhunwala family for their unwavering faith in the Akasian dream. These investment agreements will empower us to build on the future that every Akasian has envisioned – one that's bright for each of us as well as for all of India, as we transform the way customers experience air travel."

Ankur Goel, Chief Financial Officer of Akasa Air, emphasized the airline's long-term strategy, saying, "At Akasa Air, there is nothing that we do for the short term. These strategic investments represent a pivotal milestone in our journey and ensure long-term financial stability, enabling us to continue building a sustainable, future-focused business. Akasa Air continues to be well-capitalised, and these investments allow us to secure enduring, sustainable growth, with a financial safeguard to weather any unexpected challenges, thus reinforcing our readiness for the future. The airline is proud to have earned the confidence of marquee investors, who have chosen to believe in our dream and join us in our journey towards actively shaping the future of Indian aviation."
Entrepreneur Staff

Entrepreneur Staff

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