Akasa Air (QP, Mumbai International) says it has completed a funding round it launched in February 2025, bringing heavyweight investors aboard to help support its plans to rank among the world's top 30 airlines by the end of the decade.
The investors, made up of investment firm Premji Invest, fund managers 360 ONE Asset and Claypond Capital, along with additional funding from major stakeholder the Jhunjhunwala family, reportedly infused USD125 million into the carrier, according to the Indian newspaper Business Standard.
An Akasa Air spokeswoman declined to confirm the investment amount to ch-aviation or the size of the stake the new investors will hold in the carrier. "We do not disclose specifics of the transactions but focus on the quality of the investments and how the partnership further strengthens our financial foundation and locks in our growth for years to come," she said.
As ch-aviation previously reported, entities related to Claypond Capital owner and Manipal Group chairman Ranjan Pai and 360 ONE Asset sought approval from the Competition Commission of India in March to buy stakes in Akasa Air parent SNV Aviation. The consortium was tipped at the time to have pledged USD100 million to the airline in a transaction that put Akasa's value at around USD350 million.
The airline had announced plans in August 2024 to raise up to INR84 billion rupees (USD965 million) through equity and debt over three years. According to reports at the time, Rekha Jhunjhunwala, co-founder of the airline and wife of late seed investor Rakesh Jhunjhunwala, was not expected to take part in that funding round.
The investment comes as Akasa Air pushes ahead with its plans to grow its fleet from 30 aircraft currently to 226 by 2032. Its fleet comprises twenty-three B737-8s and seven B737-8-200s, according to ch-aviation fleets data. It has another ninety-seven of the B737-8-200s on order along with ninety-nine B737-10s.
The carrier launched scheduled operations in August 2022 and now flies to 28 airports in six countries, also including the UAE, Saudi Arabia, Kuwait, Thailand, and Qatar.
