Akasa Air is working towards an initial public offering in a two-to-four-year time frame, its chief executive officer said, as the airline completed four years since launch.
Speaking exclusively to NDTV Profit, Vinay Dube said the carrier's financial metrics have tracked ahead of plan since it began operations, and that a coherent profitability story would be central to any listing plan.
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"We certainly say that we want to be listed in a two-to-four-year time frame," Dube said. "From a listing perspective, you have to have a sense of what your profitability will look like and be able to have a very coherent story for an IPO. We are well on track for that."
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The airline currently operates 40 aircraft and has 186 more on order for delivery through 2032, with the pace of deliveries only expected to accelerate. Dube said Akasa is on course to be among the world's top 30 airlines by the early 2030s.
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On strategy, Dube said Akasa was not chasing market share, but scale, arguing that profitability is driven by scale rather than market share alone.
"We're not chasing market share, we're chasing profitability," Dube said. "It is scale that drives profitability. So our competitors can grow at 8,000% and it makes no difference to us. We will continue to grow in a disciplined manner, and at the end of that we'll achieve profitability independent of how fast or slow anyone else grows."
The airline generated year-on-year growth of nearly 30% in the April-June quarter, Dube said, adding that Akasa's focus remained on liquidity planning well ahead of requirement rather than reacting to funding needs.
International operations currently account for 25% of Akasa's capacity deployment, a share Dube said could rise to 30-35% over time, while domestic routes would continue to make up the bulk of the airline's network.
On the airline's Boeing-only fleet, Dube said Akasa remained committed to the manufacturer for now, though the airline reviews its fleet plans annually and remains open to alternatives if required.
Dube also confirmed Akasa will launch its loyalty programme, Akasa Elevate, on 7 August, offering tier-based benefits including free flights, discounts on food and seat selection, and flexibility on flight changes for top-tier customers, alongside retroactive claims dating back to 1 April.
On reports of airport operators seeking to own airlines, Dube said India needed more competition and more carriers.
"India needs many airlines. India needs more competition," Dube said. "We're very comfortable being part of one of five, seven, ten airlines. That's what India holds."
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