Commercial Aviation
Akasa Air Plans Fleet Growth to 226 Boeing Jets by 2032 Amid Delivery Delays
Akasa Air targets 226 Boeing 737 MAX aircraft by 2032, navigating delivery delays and expanding international operations in India’s aviation market.
India’s Akasa Air has emerged as a notable disruptor in the country’s fast-growing aviation sector. Launched in August 2022, the airline has rapidly expanded its footprint, targeting a fleet of 226 Boeing 737 MAX aircraft by 2032. This ambitious trajectory, announced by Chief Financial Officer Ankur Goel in July 2025, underscores Akasa’s intent to become a major player both domestically and internationally.
With a current fleet of 30 aircraft, Akasa’s growth strategy is tightly interwoven with Boeing’s delivery capabilities. The airline’s aspirations are set against the backdrop of rising air travel demand in India, where the market continues to grow faster than global averages. However, supply chain disruptions, regulatory scrutiny, and production delays at Boeing pose significant challenges to Akasa’s expansion timeline.
This article explores Akasa Air’s expansion strategy, current fleet status, financial resilience, international growth plans, and the broader industry context that will shape its future trajectory.
Akasa Air was founded with the backing of the late investor Rakesh Jhunjhunwala, who played a pivotal role in its inception. The airline placed its first order for 72 Boeing 737 MAX aircraft in November 2021, marking a significant commitment to modern, fuel-efficient jets. This order was later expanded to 226 aircraft by January 2024, comprising 100 MAX 10 models and 126 MAX 8-200 variants.
Within just 19 months of launching operations, Akasa initiated international flights in March 2024, connecting Mumbai to Doha. This move aligned with Qatar’s Tourism Strategy 2030 and showcased Akasa’s intent to tap into high-demand international corridors early in its lifecycle. By July 2025, the airline had transported over 16 million passengers, doubling its traffic from March 2024 figures.
India’s aviation environment has been conducive to Akasa’s rapid scaling. The country’s expanding middle class, untapped regional routes, and increasing disposable income have driven domestic air travel to some of the highest growth rates globally. Akasa has positioned itself to capitalize on these trends through a lean cost structure and a focus on operational efficiency.
As of July 2025, Akasa Air operates a fleet of 30 Boeing 737 MAX aircraft. However, the airline’s growth has been tempered by ongoing delivery delays from Boeing. These delays stem from several factors, including the 2024 Alaska Airlines door-plug incident, a machinists’ strike in the U.S., and quality control checks mandated by the Federal Aviation Administration (FAA).
Due to these disruptions, Akasa has revised its short-term delivery expectations. Originally planning to have 72 aircraft by October 2026, the airline now anticipates receiving only 54 jets by that time. This shortfall has operational consequences: out of 775 trained pilots, only 465 are currently flying, with the rest grounded due to a lack of aircraft. Despite these hurdles, Akasa plans to add five more jets by the end of the fiscal year (March 2026), bringing its total to 35. Boeing’s delivery rate to Indian carriers currently stands at just two aircraft per month, exacerbating the supply-demand imbalance. With a national backlog of 446 MAX orders, the bottleneck is industry-wide and not unique to Akasa.
“Deliveries will pick up post-2025, and the MAX 10s will start arriving from 2027 to support our long-term fleet goals.”, Ankur Goel, CFO, Akasa Air
Akasa’s financials reflect the tension between rapid expansion and profitability. In FY25, the airline reported losses of ₹1,900 crore (approximately $228 million), up from ₹1,670 crore ($200 million) in FY24. However, there were positive indicators: unit revenue (RASK) rose by 13%, while unit costs (CASK) fell by 7% year-over-year.
The airline’s cost leadership strategy is built around the Boeing 737 MAX’s fuel efficiency, claimed to be 20% better than previous models, and reduced noise levels. Akasa also leverages ancillary services like cargo operations to subsidize lower base fares, aiming to maintain a competitive edge in pricing.
In early 2025, Akasa raised $135 million in fresh capital from Premji Invest and Claypond Capital. This funding has been critical in sustaining operations amid delivery delays and maintaining pilot salaries despite grounded aircraft. The airline plans to reduce its capacity growth target to 30% in FY26, down from 50% in FY25, to better align with aircraft availability.
Akasa’s international operations currently account for 16% of its total capacity, with plans to increase this share to 20–25% by March 2026. The airline is targeting new routes in Southeast Asia and the Middle East, regions with high passenger demand and lucrative yields.
Strategic deployment of capacity has been a hallmark of Akasa’s approach. For instance, during the Maha Kumbh Mela 2025, the airline allocated 25% of its capacity to Uttar Pradesh to meet surging demand. Future hubs are planned at Navi Mumbai and Noida’s Jewar Airport, both expected to open by 2025, where Akasa intends to base 5–7 aircraft each.
CEO Vinay Dube has emphasized the importance of international revenues, stating they “hold up better over time” and are integral to the airline’s goal of becoming a top-30 global carrier by 2030. Akasa is also exploring partnerships with foreign airlines to enhance connectivity without overextending its fleet.
Akasa’s expansion comes at a time when India’s aviation sector is undergoing significant transformation. Boeing projects that India will require approximately 2,835 new aircraft by 2043, driven by sustained economic growth and rising air travel demand. However, the industry faces systemic challenges. Boeing’s global supply chain issues, Airbus’s parallel delivery delays, and safety concerns following incidents like the Air India crash in July 2025 have created an environment of caution. Though the Air India incident was attributed to a fuel-switch error, it has not significantly dampened passenger demand.
Akasa competes with established players like IndiGo and Air India, both of which have placed large aircraft orders. Yet, Akasa’s 5% market share already surpasses that of SpiceJet, indicating its disruptive potential. Its focus on cost discipline and operational efficiency may offer a competitive advantage as the industry grapples with delivery uncertainties and rising costs.
Akasa Air’s vision for 2032 is one of the most ambitious in global aviation. With a targeted fleet of 226 aircraft, the airline is betting on sustained demand growth in India and improved delivery performance from Boeing. Its strategy combines cost leadership, international diversification, and a strong capital base to navigate current challenges.
Looking ahead, Akasa’s success will depend on several variables: Boeing’s ability to stabilize production, regulatory approvals for new aircraft models, and the airline’s capacity to maintain financial discipline. If these elements align, Akasa could emerge as a formidable force in Asia’s aviation landscape, potentially reshaping competition and consumer expectations in the region.
What is Akasa Air’s fleet target by 2032? How many aircraft does Akasa currently operate? Why are Boeing deliveries delayed? What percentage of Akasa’s operations are international? How is Akasa financing its expansion?
Akasa Air’s Strategic Fleet Expansion: Navigating Boeing Delivery Dynamics for Long-Term Growth in India’s Aviation Market
Historical Context and Foundational Growth
Current Fleet Status and Delivery Challenges
Financial Performance and Cost Leadership Strategy
International Expansion and Market Diversification
Broader Industry Context and Competitive Landscape
Conclusion
FAQ
Akasa Air aims to operate 226 Boeing 737 MAX aircraft by 2032.
As of July 2025, Akasa operates 30 aircraft.
Deliveries are delayed due to supply chain issues, regulatory scrutiny, and quality control measures following safety incidents and labor disruptions.
Currently, 16% of its operations are international, with plans to increase this to 20–25% by March 2026.
The airline raised $135 million in early 2025 from Premji Invest and Claypond Capital to support operations and expansion.
Sources
Photo Credit: Reuters