EXCLUSIVE: Pilot issue is behind us, we're in the growth phase: Akasa CEO

Dube also mentioned that the airline had planned for contingencies, but this situation was very different. The number of pilots at Akasa is also increasing, Dube added, "We had 330 pilots in April, we currently have over 450 pilots. At least 125-130 more pilots have contractually committed to us that they'll join in the next 3-4 months. We'll have around 600 pilots in the next few months. We're hiring well in advance as per our requirements. The normal plan of Akasa has kicked in which will lead to growth. Akasa has plenty of pilots, we've got a 10-year plan."

When asked whether the recent rulings by Bombay and Delhi High Court are in favour of the airline, Dube said, "Will not characterise court ruling in favour of not in favour of Akasa. Judicial clarity from courts was in favour of the industry and the consumer. This is a consumer-friendly ruling. We're back with some predictability in our business."

He also said that the rulings on notice period must be respected, this is in favour of the nation's passengers and airline. He also feels that going ahead with a 6 month notice period will be respected.

Due to the sudden shortage of pilots, Akasa Air had to reduce its number of flights. When asked about the current situation, assured that consumers no longer need to worry about any further impact.

"Whatever reduction in the schedule we had to take, it was in July-August. We sacrificed profitability in favour of putting out a much more dependable network for our consumers. We're squarely in growth mode, and the network will continue to increase. We'll end this financial year with an increase of 30% in network"

According to the CEO, there has been no impact on aircraft induction. Dube explained, "This issue happened in a 6 month period when we did not plan to take deliveries. We identified a quick ramp-up from 0-20 aircraft. We planned a 6-month moratorium to not take delivery of aircraft, this ends in December. We will get two deliveries in December, further, there will be the addition of 1-2 aircraft every month."

When asked about the financials of the company, Dube stated that the rumors about Akasa Air's financial health are unfounded, and the airline remains financially strong. He added, "The Airline has been through the cash burn phase, we've generated cash and added to our cash reserves. Mr Jhunjhunwala and others invested in Akasa years ago, and not even one rupee has been spent We've not only got the initial investment in fact, but added more to the reserves."

Dube reiterated that by the end of this year, they will announce a triple-digit new aircraft order. "Cash on hands is not only good enough to run the company, but good enough for us to place a new aircraft order."

Akasa's outlook for the winter season is extremely strong. He also feels that the quality of demand will be fantastic, and the elasticity of demand is improving over time.

Dube said, "Air travel demand in India for the next two decades will increase at a double-digit pace. Air traffic demand will continue to grow. We've seen fuel being at a higher price. We've got the youngest and most fuel-efficient aircraft and engines. Akasa is the only airline in the world equipped to handle highs and lows of fuel through our technology. We're not incredibly worried about high fuel prices."