Akasa Air targets 15% market share in India

Akasa Air plans to grow rapidly and aims to be among the world's top 30 airlines by fleet size by 2030. CEO Vinay Dube said the airline aims to capture 15% of the Indian market in the next 5 to 7 years. Last year, Akasa Air experienced a 300% growth, with expectations for continued strong performance. The airline has ordered 199 more aircraft, which will bring its total to about 226 over the next seven years. Dube mentioned the airline successfully managed numerous flights during the recent Maha Kumbh event, running around 1,000 flights in one month. He believes that events like this can significantly boost the airline's performance. The Indian aviation market is growing due to increased demand and improvements in infrastructure. Dube pointed out that while the industry faces competition, India's aviation sector is still developing, which provides opportunities for growth. He stated that India could eventually have around 6,000 to 7,000 commercial aircraft, compared to around 800 currently. In the next five to seven years, the market could absorb about 1,500 new aircraft. Regarding operational challenges, Dube highlighted ongoing upgrades to airports in India, which will help manage the increased number of flights. Akasa Air plans to operate from both the existing and new terminals in Mumbai. Dube is optimistic about the future of aviation in India, emphasizing the importance of customer experience, reliable service, and on-time performance as key factors for the airline's growth.