Akasa founder Dube’s stance is in contrast with that of India’s biggest airline IndiGoNEW DELHI: Akasa founder and CEO Vinay Dube has backed airport operators being allowed to hold bigger stakes in airlines and run them. Akasa, which turns four on Friday, is learnt to be trying to raise about $110 million through debt and equity as the rise in oil prices since March has sent operating costs spiralling for airlines globally, with the weakening rupee adding to the crisis in India. Dube, however, denied being in touch with the Adani Group — India’s biggest private sector airport operator (in terms of number of airports) — for investment.Dube’s stance is in contrast with that of India’s biggest airline IndiGo whose founder and MD Rahul Bhatia had recently said: “There is no global precedent for this (allowing airport operators to own and run airlines). It raises massive conflict of interest concerns, and it is unclear how such a move would serve consumers’ interests.” Under current rules that may be reviewed following a recent request from the Adani group, operators of Delhi and Mumbai airports can’t own more than 10% stake in any airline.“We continue to be well capitalised and recently got some funds under the emergency credit line guarantee scheme. I can unequivocally say that neither we have reached out to them (Adani), nor they to us. The idea of allowing airport operators to own and run airlines is logical as the country needs more competition. As far as the apprehensions of this go, I am sure govt will take them into account. Akasa itself is the beneficiary of govt stand to promote competition,” said Dube, who describes Akasa — now India’s third largest domestic airline after IndiGo and Air India group — as an experience-led carrier.Like all Indian airlines, Akasa is also losing money. In its case, from inception. It lost Rs 1,983 crore in FY 25, almost 19% more than that loss of previous fiscal. Are the investors worried? “. “No, not at all. And the reason losses don't worry me is because financially we’re doing better than planned. Because we have planned for this and have got jet fuel in our blood. We’re hardcore planners and plan long term. Akasa has got a lot of financial discipline,” Dube said.The airline currently has 40 aircraft in its fleet and will get three more this month. It has 186 planes on order that will be delivered till Dec 2032. “This April-June we were operating 185 daily flights and 75% of our ASKM capacity is deployed on domestic and the remaining on international routes. Further aircraft orders and whether we should go in for wide bodies and regional jets too will be looked at after about 1-2 years,” Dube said.A customer for only the Boeing 737 MAX single aisles as of now, Akasa currently has 5,475 employees including 800 pilots. “We started hiring pilots again about a year back or so and have since then taken 75 more.” Like IndiGo and Air India, it has also started a cadet pilot programme that Dube insists is “not a profit centre” for the company. “We realise pilot training must be affordable and offer discounted rates for our employee’s children opting for the cadet programme,” he said.