Akasa Air sees top-level exit as co-founder Neelu Khatri quits role

Neelu Khatri, co-founder and Senior VP for International Operations, resigns from Akasa Air, with the airline saying its expansion plans remain unchanged

Neelu Khatri, Co-Founder and Senior Vice-President for International Operations at Akasa Air, has resigned from the three-year-old airline, marking a significant executive exit, the news agency PTI reported.

 

In a statement issued on Thursday, the airline confirmed that Khatri "has decided to move on from the company to pursue a new direction in her professional journey." Specific details about her future plans were not disclosed.

 

Earlier in the day, sources had informed PTI of Khatri’s resignation. She was part of the founding team of Akasa Air, which commenced operations on August 7, 2022, and also served on the airline's executive committee.

 

Founding team and leadership

 

Alongside Khatri, Akasa Air has five other co-founders: Aditya Ghosh, Anand Srinivasan, Belson Coutinho, Bhavin Joshi, and Praveen Iyer. The airline is led by Founder and CEO Vinay Dube.

 

Recent executive changes and expansion

 

Akasa Air has experienced some high-level departures in recent months. In August, the airline announced the completion of a fundraising round involving investors such as Premji Invest and Claypond Capital.

 

Despite the exit, the airline stated that its current international operations and expansion plans “remain unchanged.”

 

"An early believer in Akasa, Neelu has been integral in building on our vision and backing our early success. The company extends its sincere appreciation for her contributions and wishes her the very best in her future endeavours," the statement added.

 

Fleet and market presence

 

According to the latest official data, Akasa Air held a 5.4 per cent share of the domestic market in August. The airline currently operates 30 Boeing 737 MAX aircraft and flies to 24 domestic and six international destinations.

 

In July, Chief Financial Officer Ankur Goel stated that the airline was improving its financial performance, expanding its capacity, and targeting a fleet of 226 aircraft by the end of 2032.