Vinay Dube: Three-digit aircraft order in 75 days: Akasa CEO

NEW DELHI: Akasa co-founder &CEO Vinay Dube on Tuesday said an order for “three digit aircraft will be placed within the next 75 days”. While the airline is learnt to be planning to raise $400 million, it claims to have adequate funds to place the aircraft order by the year-end. The 20-aircraft-strong airline’s current order book comprises 56 more Boeing 737 Max.
While not commenting on the plans to raise $400 million, Dube told TOI: “We’ve an extremely strong cash position today. Akasa has been generating cash since the start of operations. We have enough cash today, meaning without requiring any other external sources of funding to place a triple-digit aircraft order.”
In his first comments after the exodus that saw over 40 pilots quit and forced Akasa to cancel hundreds of flights, the CEO said it was “unprecedented and unexpected (for an Indian carrier) for a handful of pilots to leave within 24-48 hours of resigning”. Later, the airline sued these pilots who, on their part, cite alleged violation of terms of employment as their reason for not serving the notice period, and sought several crores of rupees from them in damages.