Two years after its launch, the Vinay Dube-led airline is planning to reach out to institutional investors and family offices to shore up its cash reserves as slow aircraft delivery from Boeing derails growth.
After making the brightest of starts in the Indian aviation industry, Akasa Air finds itself in a spot of bother. The Vinay Dube-led budget carrier, which completed two years of operations yesterday, is planning to be in the market to raise funds and will approach family offices and institutional investors, according to two industry executives, who requested anonymity.
This is possibly to shore up its cash reserves, which have come under pressure lately. Akasa had placed an order for 226 aircraft from Boeing, but hasn’t received any since February as the aviation giant has pushed back its deliveries amid probes …
Prince leads the newsroom at The Morning Context as managing editor. A fascination with the written word has taken Prince to some of the leading newsrooms across the country, including The Economic Times, Dow Jones Newswires, Forbes India and Moneycontrol. In a career spanning 20 years, Prince has led teams, managed pages, projects and special editions, and has authored The Consolidators, published by Penguin Random House in 2017.
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