Akasa Air Co-Founder Praveen Iyer Resigns Amidst Leadership Reshuffle

Akasa Air, India’s fast-growing budget carrier, announced on Wednesday, February 11, 2026, that its Co-founder and Chief Commercial Officer, Praveen Iyer, has resigned from his position. Iyer, who has been a pivotal figure in the airline’s journey since its inception five years ago, plans to step down officially at the end of April 2026. His departure marks the second high-profile exit of a founding member in recent months, following the resignation of Neelu Khatri, the former head of international operations, in October 2025. During his tenure, Iyer was instrumental in establishing the airline’s commercial framework, overseeing its network expansion to over 20 domestic destinations and managing key partnerships during a period of rapid fleet growth.

The airline confirmed that a transition plan is already in motion to ensure stability during this leadership change. Anand Srinivasan, another co-founder who currently serves as the Chief Information Officer, has been appointed to take over the role of Chief Commercial Officer. While the search for a new CIO begins, the information technology function will temporarily report to Chief Financial Officer Ankur Goel. In a statement, Akasa Air Founder and CEO Vinay Dube expressed deep gratitude for Iyer’s leadership and long-term perspective, noting that his counsel was invaluable during the airline’s formative years. For his part, Iyer expressed confidence in the airline’s future, stating that the company is well-positioned for its next phase of growth.

This reshuffle comes at a critical juncture for Akasa Air as it navigates a complex aviation landscape. Despite a net loss of approximately ₹1,986 crore in the 2024-25 fiscal year, the airline has remained aggressive in its expansion, recently joining the International Air Transport Association (IATA) and growing its fleet to 33 Boeing 737 MAX aircraft. The carrier has faced external headwinds, including global delivery delays from Boeing and regulatory scrutiny from the DGCA, yet it continues to target a market share of around 5%. As the airline prepares for its next chapter, the focus remains on fleet induction and strengthening its international footprint, even as the industry faces a broader period of financial consolidation.