How India's youngest airline is threatening IndiGo-Air India duopoly
What's the story
Akasa Air, India's newest airline, has expanded its operations by a whopping 13.2% in March-April. This comes at a time when major players like IndiGo and Air India are cutting back on their services due to the ongoing Iran war, which has led to higher fuel costs and airspace disruptions. The data was sourced from Cirium, an aviation analytics firm.
Market dynamics
Airline operated over 10,100 flights in March-April
While IndiGo and Air India have reduced their flights by 4.5% and 7.5%, respectively, Akasa has bucked the trend with a significant capacity expansion. The airline, which started operations during the COVID-19 pandemic and launched its first commercial flight in 2022, operated over 10,100 flights during March-April 2026. This accounts for nearly 4.7% of all domestic and international flights operated by Indian airlines during this period, according to Cirium.
Expansion strategy
Plans to expand fleet in coming years
Despite having a smaller fleet than its competitors, Akasa plans to significantly expand its fleet in the coming years. The airline currently operates domestic routes and flies to seven international destinations. In March, it carried 5.4% of passengers in India, government data showed. This is much lower than IndiGo's 63.3% and the combined 26.2% of the Air India Group.
Ownership
Akasa operates 38 Boeing 737 MAX aircraft
Akasa currently operates 38 Boeing 737 MAX aircraft, compared to IndiGo's over 420 planes and the Air India Group's nearly 300. In March, it announced a "a firm order" for an additional 226 aircraft to be delivered in the coming years. The airline is owned by SNV Aviation, whose shareholders include Akasa's founder and CEO Vinay Dube, late billionaire Rakesh Jhunjhunwala's family, a private equity fund managed by 360 ONE Asset Management, among others.