Akasa Air is looking to raise 10.5 billion rupees ($110 million) through equity and debt, people familiar with the matter said, as India’s youngest airline seeks funds to overcome challenges brought on by the Iran war.
The airline has approached existing as well as two new investors to raise about 8 billion rupees through equity, said the people, who asked not to be identified as the discussions are private. It is also in talks with state-run banks for at least 2.5 billion rupees in debt, they said, under an India government credit line for carriers hit by the conflict.
