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India's Akasa Airlines sees Boeing deliveries increasing in the coming years

Ankur Goel, the chief financial officer of India's Akasa Airlines, said that he expects Boeing to increase its plane deliveries in the next few years. The airline aims to have a fleet size of 226 aircraft, up from 30 at present, by 2032.

The airline expects the number of available seat kilometers, a measure for passenger capacity, to grow by over 30% in this fiscal year. This is on top of a 50% increase last year.

Goel, at a press conference in the capital of India, did not give a breakdown by year, but he said that deliveries were expected to rise over time.

In an earlier report, it was reported that Akasa Air executives privately criticized Boeing for the delayed delivery of planes and scrambled to reassure hundreds of anxious pilots without jobs.

Mumbai's low-cost carrier, which began operations three years ago, ordered 226 Boeing 737 MAX planes. Delivery delays have occurred as the 737 MAX program has been under regulatory scrutiny following a cabin panel explosion mid-air last year, and the effects of a 7-week workers strike.

Goel has not provided any revenue or profit data for the fiscal year 2024-25. Akasa quadrupled its revenue to $356 millions in the year prior, but saw its loss increase to $194 from $86.

In May, Akasa's domestic market share was 5.3%. This compares to the combined 90+% held by IndiGo and Air India Group.

Akasa was founded with the support of Rakesh Jhunjhunwala - dubbed India’s Warren Buffett - and went on an hiring spree. Within two years, it began operating international flights from Qatar to Saudi Arabia.

In February, despite challenges, Akasa raised an amount of unspecified capital from the investment arm of Indian billionaire Azim Premji and Jhunjhunwala family. Reporting by Abhijit Panapavaram from New Delhi and Manvi Pant in Bengaluru. Mark Potter edited the article.

(source: Reuters)