New Delhi8 hours ago
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Azim Premji's Premji Invest, Ranjan Pai's Manipal Group and 360 One Asset will buy stake in Akasa Air's parent company SNV Aviation. The Competition Commission of India (CCI) has approved this purchase on Wednesday.
In February 2025, the three companies signed an agreement to purchase steak in Akasa Air. However, information about how much stake companies will buy has not been revealed.
After getting the investment, Akasa will purchase new flights as well as expand domestic and international routes. This will provide competition to domestic airline companies like IndiGo and Air India.
These companies will invest
- PI Opechantity Fund (PIOF): Global Investment Arm of Azim Premji's Premji Invest.
- Clapond Capital: Family Office of Ranjan Pi of Manipal Group.
- 360 One Private Equity Fund: Fund managed by 360 One Asset.
Akasa Air market share 4.5%
Akasa Air holds 4.5% in the Indian airline market. In February, 6.58 lakh passengers traveled with Akasa Air. At the same time, Akasa Air is second in the country in terms of on time performance. 78.6% flights of Akasa fly on time.
This news also read the number of domestic air passengers in February became 1.40 crores: IndiGo's market share was 63.7%, the third consecutive month became the most punctual airline
India's largest airline IndiGo has become the country's most beloved airline for the third consecutive month. According to the February 2025 data from the Aviation Regulator Director General of Civil Aviation (DGCA), 80.2% flights of IndiGo were on time at metro airports like Delhi, Mumbai, Bangalore and Hyderabad. Read full news …
