Akasa Air Faces Widening Financial Losses Amid Income Growth

Akasa Air reported a significant financial loss of Rs 1,670.06 crore in FY 2024, despite a substantial income increase to Rs 3,144.38 crore. The airline operated over 110 flights daily with a fleet of 24 planes. Expenditure rose sharply, adding to the company’s financial challenges.

Akasa Air's financial woes deepened with a loss of Rs 1,670.06 crore in the fiscal year ending March 2024, despite the airline's income soaring to Rs 3,144.38 crore during the same period.

Data accessed from Tofler revealed the airline's after-tax loss at Rs 744.53 crore in the previous year. With a fleet of 24 airplanes, Akasa conducted over 110 flights daily by March 2024.

According to SNV Aviation Pvt Ltd's filing, total income for FY 2024 stood at Rs 31,443.83 million, but net loss also shot up to Rs 16,700.66 million. The airline faced rising expenses and negative net worth as liabilities surpassed assets significantly.

(With inputs from agencies.)