High-Profile Investments Propel Akasa Air's Ambitious Expansion Plans

Akasa Air's parent company, SNV Aviation, is set for a boost as Azim Premji's investment arm, Manipal Group Chief Ranjan Pai's family office, and 360 ONE Asset seek stakes. The capital infusion will support Akasa's growth and enhance services. The Jhunjhunwala family is also increasing its investment.

In a significant move, notable investment entities including Azim Premji's global investment arm, Ranjan Pai's family office, and 360 ONE Asset have initiated the process to acquire stakes in Akasa Air, as per a filing with the Competition Commission of India (CCI). The acquisition aims to bolster the airline's growth strategy.

Managed by SNV Aviation Pvt Ltd, Akasa Air operates both domestic and international passenger and cargo services. This strategic investment is intended to support Akasa Air's expansion efforts, improve customer service, and drive technological advancements in safety and reliability as it looks to broaden its international footprint.

The Jhunjhunwala family, already holding a significant share, has committed to additional investment, showcasing confidence in the airline's trajectory. CEO Vinay Dube emphasizes the airline's robust financial health, supported by the recent capital inflow from high-profile partners.

(With inputs from agencies.)