Mumbai-based airline Akasa Air has reported a significant rise in revenue for the financial year 2024–25, even as the company continued to post widening losses amid rising operational expenses.
According to consolidated financial statements sourced from the Registrar of Companies, the airline’s revenue grew 47 percent to Rs 4,636 crore in FY25, compared to Rs 3,144 crore in FY24. Revenue from operations stood at Rs 4,583 crore during the year, up from Rs 3,070 crore in the previous financial year.
Passenger services, mainly ticket sales, remained the airline’s largest revenue contributor, accounting for 94 percent of total income at Rs 4,308 crore in FY25. Cargo operations generated Rs 186 crore, while in-flight sales contributed Rs 82 crore. Other operating income during the year stood at Rs 6 crore.
On the cost side, aircraft fuel remained the airline’s largest expense. Fuel spending increased 31 percent to Rs 2,013.5 crore in FY25, up from Rs 1,528 crore in FY24, making up nearly 30 percent of the company’s total expenditure. Aircraft maintenance and other aircraft-related expenses rose 26 percent to Rs 1,098 crore from Rs 867 crore a year earlier. Airport charges also increased sharply by 40 percent, reaching Rs 400.5 crore in FY25 compared to Rs 284 crore in FY24.
Overall, the airline’s total expenses rose 38 percent to Rs 6,619 crore in FY25 from Rs 4,814 crore in FY24. As a result, net losses widened 19 percent to Rs 1,983 crore in FY25, compared to Rs 1,670 crore in the previous year. On average, the airline spent Rs 1.44 to earn every rupee from operations in FY25, an improvement from Rs 1.57 in FY24.
Akasa Air, headquartered in Mumbai, began operations on August 7, 2022. The airline was founded in 2021 by industry veterans including Vinay Dube and Aditya Ghosh, with major backing from late investor Rakesh Jhunjhunwala.
The carrier currently serves more than 26 destinations, including six international locations such as Doha, Abu Dhabi, Phuket, Jeddah, Riyadh and Kuwait City. The airline launched its international operations in March 2024 with flights to Doha, becoming one of the fastest Indian carriers to begin overseas services within 19 months of its launch.
At present, the airline operates a fleet of 35 Boeing 737 MAX aircraft as it continues expanding its domestic and international network.
