Akasa Air (QP, Mumbai International) has decided to trim its budget for the 2024-2025 financial year, which starts in April, as part of its cost control measures, the news agency Press Trust of India reported.
The budget reduction could be up to 20% compared to the current financial year. In a statement to the Press Trust of India (PTI) news agency, the company said it is always looking for prudent ways to control its costs without sacrificing any elements of safety, customer experience, employee salaries, or the business's long-term health.
The cuts will be executed a few days after the Indian carrier debuts its international operations, with 4x weekly services connecting Mumbai with Doha Hamad International.
SNV Aviation Pvt. Ltd., the legal name of Akasa Air, reported a net loss of INR7.4 billion rupees (USD89.3 million) for the financial year ending March 31, 2023. The airline was recently reported to be looking to raise around USD300 million.
ch-aviation has asked Akasa Air for comment.
The ch-aviation fleets module shows that the Akasa Air fleet comprises 24 aircraft, including twenty-three B737-8s, and one B737-8-200. The company has 203 additional aircraft on order, including ninety-nine B737-10s, one B737-8s, and 103 B737-8-200s.
