Akasa Air, the newest entrant in the Indian aviation sector, is preparing for a major leap into the public markets. Ankur Goel, the Chief Financial Officer (CFO) of Akasa Air, has signaled that the airline is developing a strong plan to list on the stock exchanges within the next 2 to 4 years. This strategic move comes at a time when the Indian aviation industry is experiencing a significant surge in passenger traffic, reaching record levels. Akasa Air is positioning itself to challenge established players like IndiGo and SpiceJet by consistently adding new aircraft to its fleet and expanding its international footprint.
Strategic Vision and IPO Timeline
During an event held in the national capital, Ankur Goel emphasized that the question isn't whether the airline will launch an Initial Public Offering (IPO), but rather the timing of it. He stated that the IPO is a certainty and the company is focused on building a business that holds genuine value. The timeline for the IPO, estimated between 2 to 4 years, is contingent upon the airline achieving several key business milestones. These targets include reaching profitability at the EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) level, strengthening the company's cash flow, and attaining overall profitability.
Fleet Expansion and Global Reach
Since starting its operations in August 2022, Akasa Air has been steadily increasing its presence in the sky. Currently, the airline operates a fleet of 39 aircraft and provides services to a total of 34 destinations, including several international cities. The airline has set an ambitious long-term goal to expand its fleet to 226 aircraft by the year 2032. This massive expansion plan is designed to capture a larger share of the growing aviation market and establish Akasa Air as a dominant force alongside its competitors.
Financial Performance and Growth Targets
Despite being in a loss-making phase typical for new airlines, Akasa Air has shown promising financial trends. Goel noted that the airline was EBITDA positive during the period from September 2025 to March 2026. He further highlighted that the company's losses this year have been lower compared to the previous year. This improvement indicates that various financial metrics, including revenue, revenue per unit, cost per unit, EBITDA, and cash consumption, are performing better than expected. For the current financial year, the company aims for a capacity growth of approximately 30 percent. Looking further ahead, the airline expects its capacity growth to remain within the range of 30 to 40 percent over the next 4 to 5 years.
Challenging the Market Leaders
The move towards an IPO is seen as a direct challenge to market leaders like IndiGo and SpiceJet, who are already listed on the stock exchanges. By going public, Akasa Air seeks to secure the necessary capital to fuel its aggressive expansion plans and fleet acquisition, while the airline's focus on operational efficiency and value creation is intended to attract investors who are looking for growth opportunities in the booming Indian aviation sector. As the company works towards its targets, the market will be closely watching its progress toward becoming a profitable and publicly traded entity.