{"id":57963,"date":"2024-03-05T15:09:23","date_gmt":"2024-03-05T09:39:23","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=57963"},"modified":"2024-08-07T19:55:39","modified_gmt":"2024-08-07T14:25:39","slug":"akasa-air-cutting-2024-25-budget-despite-international-expansion","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2024\/03\/05\/akasa-air-cutting-2024-25-budget-despite-international-expansion\/","title":{"rendered":"Akasa Air Cutting 2024-25 Budget Despite New International Expansion"},"content":{"rendered":"\n

MUMBAI-<\/strong> India’s youngest domestic carrier, Akasa Air (QP)<\/a>, is gearing up to commence international services this month and has opted to streamline its budget for the upcoming financial year starting April, as part of a strategy to exercise cost control, according to sources.<\/p>\n\n\n\n

When approached for comment, an airline spokesperson said they continually explore judicious methods to manage costs effectively.<\/p>\n\n\n\n

\"Akasa
Photo: Anurag Bengani | Vecc_Spotting<\/figcaption><\/figure>\n\n\n\n

Akasa Air Cutting Budget<\/h2>\n\n\n\n

The airline, having commenced commercial flights on August 7, 2022, and currently operating more than 20 Boeing 737 Max aircraft<\/a>, is reportedly planning to slash its fiscal year 2024-25 budget by up to 20%, as revealed by sources on Monday.<\/p>\n\n\n\n

An Akasa Air spokesperson emphasized the company’s commitment to cost-conscious practices while maintaining safety, customer experience, and overall business health.<\/p>\n\n\n\n

The spokesperson clarified that cost-cutting measures would not affect employee salaries, and the airline remains well-funded, securing its initial investment in its bank account. However, specific details about the budget reduction plans were not immediately available.<\/p>\n\n\n\n

Responding to queries about a potential 15% cut in salary variables for the next fiscal year, the spokesperson stated that Akasa Air is proud to offer a leading compensation package to its workforce and affirmed that this commitment would continue in the upcoming fiscal year.<\/p>\n\n\n\n

Last year, the airline faced challenges, including pilot exits leading to flight cancellations, and it reported a comprehensive loss of Rs 744.131 crore for the year ended March 31, 2023, according to financial data obtained from the Tofler business intelligence platform.<\/p>\n\n\n\n

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Photo: Akasa Air<\/figcaption><\/figure>\n\n\n\n

New Routes and Planes<\/h2>\n\n\n\n

Scheduled to commence international operations with its inaugural Mumbai to Doha flight on March 28, Akasa Air has been steadily expanding its presence. With a domestic market share of 4.5% in January, the airline has been proactive in its fleet expansion.<\/p>\n\n\n\n

In January, it placed an order for 150 Boeing <\/a>737 Max planes, building on its initial order of 72 Boeing 737 Max aircraft in 2021.<\/p>\n\n\n\n

The airline further reinforced its commitment to the Boeing 737 Max series with an additional order for 4 Boeing 737 Max 8 aircraft in June 2023.<\/p>\n\n\n\n

Stay tuned with us. Further, follow us on social media for the latest updates.<\/p>\n\n\n\n

Join us on Telegram Group <\/a>for the Latest Aviation Updates. Subsequently, follow us on Google News<\/a>.<\/p>\n\n\n\n

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Akasa Air Will be in Top 30 Airlines in the World List by 2030: CEO Vinay Dube<\/a><\/blockquote>