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Mumbai

Mumbai, India: Akasa Air is seeking to raise ₹1,050 crore (US$110 million) through a combination of equity and debt financing as the Mumbai-based carrier looks to strengthen its finances amid higher operating costs triggered by the recent Iran conflict. The fundraising comes as soaring aviation fuel prices, flight disruptions and longer routings have added financial pressure on airlines while Akasa continues its aggressive expansion strategy. Akasa plans to raise approximately ₹800 crore (US$84 million) through equity and at least ₹250 crore (US$26 million) through debt. The airline has approached both its existing shareholders and two new investors for the equity portion, while simultaneously holding discussions with state-run banks to secure debt financing under the Indian government's special credit line introduced to support airlines affected by the Iran conflict. The discussions remain private and the fundraising structure has not yet been finalized. For the equity raise, existing shareholders are expected to contribute around ₹500 crore (US$52.4 million), while the remaining ₹300 crore (US$31.4 million) is expected to come from one Asian investor and one American investor, according to the report. Akasa Air began operations in August 2022 under SNV Aviation Pvt. Ltd. The airline had already raised capital from investors in June 2025, but market conditions deteriorated following the conflict between Iran and the United States. The war disrupted international air travel, forced airlines to reroute flights around restricted airspace and drove up aviation turbine fuel (ATF) prices. Fuel typically accounts for around 40% of an airline's operating costs, significantly increasing financial pressure across the industry. The airline's fundraising reflects wider challenges confronting both Indian and global carriers. Tata Group-owned Air India recently reported its largest-ever annual loss and is seeking additional funding from its shareholders, including Singapore Airlines. Responding to reports of the fundraising, Akasa Air did not directly confirm the capital raise but said it looks forward to availing itself of the government's aviation credit line "as appropriate, to further strengthen our growth plans." SNV Aviation's shareholder base includes Akasa Air founder and Chief Executive Officer Vinay Dube, the family of late billionaire investor Rakesh Jhunjhunwala, a private equity fund managed by 360 ONE Asset Management, and other investors. Despite the challenging operating environment, Akasa has continued expanding more rapidly than most competitors. While overall airline capacity in India declined by 6% during March and April, Akasa increased its flight operations by 13.2% year-on-year, making it the only domestic carrier to significantly expand capacity during that period. The airline currently operates a fleet of 40 Boeing 737 MAX aircraft. For the financial year ended 31 March 2026, Akasa reported a 37% increase in operating revenue, supported by 30% growth in available seat kilometres (ASKs). Chief Financial Officer Ankur Goel also announced last month that the airline plans to expand capacity by another 30% during FY2027, underscoring management's confidence in long-term demand despite current geopolitical and cost pressures. The proposed fundraising would provide Akasa with additional liquidity to support fleet expansion, network growth and working capital requirements while mitigating the impact of elevated fuel prices and operational disruptions caused by the conflict in the Middle East. If completed, the transaction would further strengthen the airline's balance sheet as it pursues continued expansion in India's highly competitive aviation market.

Akasa Air Seeks ₹1,050 Crore To Support Expansion Amid Rising Iran Conflict Costs

Aviation Today News Desk / July 16, 2026

Mumbai, India: Akasa Air is seeking to raise ₹1,050 crore (US$110 million) through a combination of equity and debt financing […]

Ahmedabad, India: A potentially serious ground incident was averted at Ahmedabad's Sardar Vallabhbhai Patel International Airport after an Air India aircraft inadvertently entered an active taxiway following landing and came face-to-face with an IndiGo aircraft preparing for departure. Swift intervention by Air Traffic Control (ATC) prevented the situation from escalating, with both aircraft stopping safely before any collision occurred. The incident took place on the evening of June 24 while Air India flight AI2493, operating from Mumbai to Ahmedabad, was taxiing to its assigned parking stand after landing. According to Air India and aviation sources, the aircraft made an unintended turn while taxiing toward its designated bay, entering an active taxiway instead of following its assigned route. At the same time, IndiGo flight 6E5160, scheduled to operate from Ahmedabad to Mumbai, was taxiing for departure toward the runway. The unexpected movement brought the two Airbus A320-family aircraft onto the same taxiway, leaving them positioned directly opposite each other. According to officials, Air Traffic Control immediately instructed both flight crews to stop. The aircraft came to a halt with an estimated separation of around 200 metres, ensuring that no contact occurred between them. Authorities confirmed there were no injuries to passengers or crew and no damage to either aircraft. Following the incident, the Air India aircraft was assisted back to its designated parking bay with ground support, after which the IndiGo aircraft resumed taxiing and departed safely for Mumbai. The IndiGo flight subsequently landed safely at Chhatrapati Shivaji Maharaj International Airport in Mumbai. In an official statement, Air India acknowledged that flight AI2493 had taken an unintended turn during taxiing after landing at Ahmedabad on June 24. "We are aware of an incident where our flight AI2493 operating from Mumbai to Ahmedabad, after landing, inadvertently took a wrong turn during taxiing. There was no compromise on the safety of passengers or crew. The aircraft was subsequently moved to the correct parking bay with ground assistance," the airline said. Air India added that the matter had been reported to the Directorate General of Civil Aviation (DGCA), and an internal investigation had been initiated. IndiGo confirmed that its flight 6E5160 was taxiing for departure to Mumbai when another aircraft entered its taxi path. The airline said both aircraft were stopped immediately as a precaution in coordination with ATC. After the situation was resolved, the flight continued its departure and completed the journey safely. The Directorate General of Civil Aviation has been informed of the incident and has initiated an investigation to determine the circumstances that led to the taxiway deviation. Investigators are expected to examine the sequence of taxi instructions issued by ATC, cockpit communications, pilot adherence to taxi clearances, airport ground movement procedures and other operational factors that may have contributed to the incident. Authorities have not yet determined the cause of the wrong turn, and no findings have been released regarding whether the deviation resulted from pilot error, misunderstanding of taxi instructions, airport signage, or any other contributing factor.

Potential Ground Collision With IndiGo Aircraft Averted After Air India Taxiway Error

Aviation Today News Desk / June 26, 2026

Ahmedabad, India: A potentially serious ground incident was averted at Ahmedabad’s Sardar Vallabhbhai Patel International Airport after an Air India

Mumbai, India: An Air India flight bound for Bengaluru was forced to return to Mumbai shortly after takeoff in the early hours of April 9, 2026, after experiencing an engine stall mid-air, prompting the crew to issue a “PAN PAN” emergency call. The incident involved flight AI2812, operated by an Airbus A320neo aircraft. Scheduled to depart at around 2:05 AM, the flight took off at approximately 2:15 AM but encountered technical issues within minutes of departure, forcing a return to the origin airport by around 2:35 AM. According to officials familiar with the development, one of the aircraft’s engines identified as engine number 2 stalled shortly after takeoff. The pilots subsequently issued a “PAN PAN” call, an internationally recognized radio signal indicating an urgent situation that requires priority handling but is not immediately life-threatening. Passengers onboard reported hearing a loud noise during the climb and observed sparks emanating from the affected engine. Some passengers also mentioned water leakage inside the cabin during the initial phase of the flight. Airport authorities activated a local standby as a precaution while the aircraft made its return. The flight landed safely in Mumbai without any injuries reported among passengers or crew. In an official statement, Air India said the aircraft “returned to Mumbai shortly after take-off as a precaution due to a suspected technical issue, in accordance with standard operating procedures,” adding that the aircraft has been grounded for detailed technical inspection. The airline also confirmed that passengers were provided assistance upon landing and that an alternative aircraft was arranged to complete the journey, which departed later in the morning. The spokesperson said, “We regret the inconvenience caused to our passengers. Our Mumbai airport teams provided immediate assistance, and an alternative aircraft was arranged to operate the flight. The safety and wellbeing of our passengers and crew remain Air India’s top priority.” A “PAN PAN” call, derived from the French word panne (meaning breakdown), is used in aviation to signal urgency without immediate danger to life, and is considered less severe than a “MAYDAY” distress call. Investigations into the exact cause of the engine stall are currently underway.

Air India Flight Returns To Mumbai After Mid-Air Engine Stall, PAN PAN Call Issued

Aviation Today News Desk / April 10, 2026

Mumbai, India: An Air India flight bound for Bengaluru was forced to return to Mumbai shortly after takeoff in the

State-run oil marketing companies (OMCs) in India have announced a significant reduction in Aviation Turbine Fuel (ATF) prices commencing January 1. This provides relief to both airlines and consumers following recent pricing hikes | Aviation Today

Recent Reduction in ATF Prices may result in Cheaper Airline Ticket Prices

Aviation Today News Desk / January 2, 2025

India: State-run oil marketing companies (OMCs) in India have announced a significant reduction in Aviation Turbine Fuel (ATF) prices commencing

India's regional airline, FLY91, will begin operating two additional direct flights between Solapur to Mumbai and Goa starting December 23, 2024. This marks a major turning point in the airline's efforts to strengthen linkages between smaller villages and major urban centers | Aviation Today

Fly91 Adds Two More Destinations, Bringing Its Fleet to Nine

Aviation Today News Desk / November 30, 2024

Image from Fly91’s X account Goa: India’s regional airline, FLY91, will begin operating two additional direct flights between Solapur to

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