Akasa Air awaits security approvals to induct new board members after raising funds from Premji Invest & Claypond Capital. Expansion plans underway.
The carrier, which started flying more than three years ago, earlier this year raised funds from investors, including Premji Invest and Claypond Capital, and the investments will be utilised mainly for expanding operations.
It has a fleet of 30 Boeing 737 MAX planes.
The airline’s Co-Founder and Chief Commercial Officer Praveen Iyer on Monday stated the funding has been done and the process has been completed.
“We are waiting for security clearance so that they can be inducted into the board,” he stated at a briefing in the national capital.
Akasa Air did not disclose details about its existing board members or the number of new members who are likely to be inducted into the board.
Information available on the corporate affairs ministest’s MCA21 portal displayed that SNV Aviation, which operates the airline under the brand Akasa Air, has six board members, including three nominee directors.
The current board has three directors — Vinay Dube, Sanjay Dube and Aditya Ghosh — and three nominee directors — Amit Goela, Utpal Hemfinishra Sheth and Paul Michael Oddy Jr, as per the information.
Vinay Dube is the Founder and CEO of Akasa Air.
“We want to be profitably run, not profiteering…,” Iyer stated and added that things are seeing promising.
The airline has a fleet of 30 Boeing 737 MAX planes.
Leave a Reply