The newest airline in India, Akasa Air, which was co-founded by the late Rakesh Jhunjhunwala, a millionaire investor, recorded an operating loss of Rs 602 crore for the first eight months of FY23.
Details on Akasa Air declares an operational loss of Rs 602 crore for FY23
The Ministry of Civil Aviation provided Akasa Air’s operating income and costs for the most recent fiscal year in response to a question in the Lok Sabha. In August 2022, Akasa Air launched its operations.
According to MCA records, the airline made Rs 777.8 crore while spending Rs 1,866 crore on operations to March 2023.
The airline claimed that pre-operating costs, as well as the price of establishing stations and new routes, were the main cause of the expense.
Akasa Air recently stated that despite initial financial difficulties, the airline is adequately financed and has the money to place a three-digit aircraft order by the end of 2023.
With the addition of its 20th aircraft this month, Akasa Air will have 19 operational planes and be able to conduct international operations.
The newest airline is becoming a major participant in the competitive aviation sector with its growing market share, expanding network, and ambitious growth goals, notably in the absence of low-cost carrier Go First.
The number of passengers carried by Akasa Air increased from 4.20 lakh in March 2023 to 6.18 lakh in June. It is clear that the airline’s dedication to dependability and customer satisfaction has gained the hearts of passengers.
Regarding Akasa Air’s future course, Dube stated that by March 2027, he expects the airline to have 76 aircraft, a thriving domestic market, a number of foreign gateways, and a dedication to providing first-rate customer service.
