Akasa Air to raise 1,000cr and increase authorized share capital
Akasa Air is gearing up to raise ₹1,000 crore through a mix of equity and debt as it looks to grow bigger and handle challenges from the West Asia conflict.
The airline just got shareholder approval to bump up its authorized share capital from ₹171.5 crore to ₹197.5 crore.
This new round of funding comes after a previous ₹1,200 crore raise last August, with the money coming in through private placement of special shares.
Akasa Air sees 37% revenue jump
The past year's been busy: Akasa saw a 37% jump in operating revenue thanks to adding 10 new planes and boosting capacity by 30%, now flying to 32 destinations.
Looking ahead, they're aiming for another 30% growth in FY27 and plan to tap into government credit support if needed.
The airline says it feels confident about its financial health and long-term plans for expansion.