Akasa Air overtakes SpiceJet as India's 3rd-biggest airline by revenue
Akasa Air just pulled ahead of SpiceJet to become India's third-biggest airline by revenue for April-June 2025, bringing in ₹1,399.6 crore—a solid 22% jump from last year.
Meanwhile, SpiceJet's revenue dropped by 24% as it struggled with losses and operational setbacks.
Akasa's rapid rise
Launched in August 2022, Akasa has quickly grabbed a 5.5% domestic market share—more than double SpiceJet's.
With a fleet of 30 Boeing 737 Max planes (and five more on the way this year), they're flying fuller flights too, despite some early losses.
SpiceJet's struggles continue
SpiceJet has seen its fleet shrink from 88 planes in 2022 to just 61 now—and only about four out of 10 are actually flying.
Funding issues have led to delayed salaries and even aircraft repossessions.
While their losses have shrunk compared to last year, they're still struggling in a market dominated by IndiGo and Air India, who together control over 91% of domestic flights as of July.