Akasa Air Co-founder Praveen Iyer Quits

Praveen Iyer, co-founder and chief commercial officer (CCO) of Akasa Air, has resigned from the airline, marking the second major leadership exit in less than three years since the carrier began operations.

Iyer was part of the founding team that launched the airline in 2022. He also served on the executive committee and played a key role in shaping the airline’s commercial strategy during its early growth phase.

In an official statement, Vinay Dube, founder and chief executive officer of Akasa Air, acknowledged Iyer’s contribution to the airline’s development.

“Praveen has been instrumental in shaping not just Akasa's commercial vision but the airline itself,” Dube said, adding that the company is grateful for his leadership and long-term perspective during its formative years.

Following Iyer’s departure, Anand Srinivasan, co-founder and chief information officer (CIO), has taken charge as the new chief commercial officer. Akasa Air is currently searching for a new CIO. Until then, the IT function will report to Chief Financial Officer Ankur Goel.

Dube described Srinivasan as one of the early architects of the airline, noting that his experience in combining technology and commercial strategy will be important as the airline enters its next phase of growth.

The development comes shortly after the airline confirmed that Goods and Services Tax (GST) officials had visited its offices as part of a routine business verification process.

Akasa Air is backed by the family of late investor Rakesh Jhunjhunwala and was founded by a group of aviation industry veterans, including Vinay Dube and former IndiGo president Aditya Ghosh.

The founding team included senior executives with experience at airlines such as Jet Airways, Go First, and Qatar Airways. One of the co-founders, Neelu Khatri, exited the company last year.

Akasa Air currently holds approximately 5% market share in India’s aviation sector. The airline has been expanding its domestic and international network while positioning itself as a low-cost carrier in a competitive market.

Iyer has not publicly commented on the reasons for his departure.