Second co-founder exit in four months: Akasa Air CCO Praveen Iyer quits

Akasa Air co-founder Praveen Iyer has resigned as the Chief Commercial Officer, the airline said on Wednesday, marking the second senior exit in four months.

After a five-year journey, Iyer has decided to move on to begin the next chapter of his life, the company said.

According to Akasa Air, Iyer will work with the leadership team to ensure a structured transition through April 30, 2026.

The airline has appointed Chief Information Officer Anand Srinivasan, also a co-founder, as the new commercial head.

The budget carrier, which began operations in August 2022, now has four co-founders — Aditya Ghosh, Anand Srinivasan, Belson Coutinho and Bhavin Joshi.

Akasa said it has begun the search for a new CIO, while the IT function will temporarily report to Chief Financial Officer Ankur Goel.

Iyer said it was a privilege to be part of an “exceptional team” and added that the airline was well positioned for its next phase of growth.

Akasa founder and CEO Vinay Dube thanked Iyer for his contribution during the airline’s formative years, citing his “leadership, clarity of thought and long-term perspective.”

"We are grateful for his leadership, clarity of thought, and long-term perspective during the formative years of the airline. I am deeply grateful to Praveen for his counsel and invaluable contribution in building Akasa and I wish him and his family the very best.” Dube said.

In recent times, there have been some executive-level exits at the carrier.

Iyer is the second co-founder to leave after Neelu Khatri stepped down in October 2025. He was also a member of the airline’s executive committee.

Akasa has expanded its fleet to 33 Boeing 737 MAX aircraft in less than four years, but has faced challenges including pilot shortages and regulatory scrutiny.

The Directorate General of Civil Aviation (DGCA) issued 352 show-cause notices to airlines over violations in the past two years, of which 17 were served to Akasa.

Akasa Air reported a loss of ₹1,986.25 crore in 2024-25 while the cumulative loss of Indian airlines stood at ₹5,289.73 crore during the same period, as per data provided by the civil aviation ministry to the Rajya Sabha on February 9.