Akasa Air co-founder Praveen Iyer quits, second high-level resignation in 3 years of operations

Akasa Air co-founder and chief commercial officer Praveen Iyer has quit the budget airline, the company said on Wednesday in a statement.

Anand Srinivasan, co-founder and chief information officer, will replace Iyer in the role of chief commercial officer, Akasa Air said.

This is the second high-profile exit in less than three years of the airline's operations.

Praveen Iyer, who was among the group of industry executives who founded Akasa Air, was also a member of the executive committee of the company.

In October last year, Neelu Khatri, who was the head of international operations of the airline, had also stepped down from her role at the company. This makes Iyer's resignation the second high-level exit in less than six months.

In its statement on Wednesday, Akasa Air said that after a remarkable five- year journey, Praveen Iyer has decided to move on to begin the next chapter of his life.

It was immediately not clear why the Akasa Air co-founder decided to leave the company, and whether he is joining some other firm or starting something of his own.

Iyer's resignation also comes a day after a spokesperson of the airline told Reuters that tax officials visited Akasa Air offices as part of business verification processes.

Akasa Air in its statement further said that the chief commercial officer will partner closely with the leadership team to ensure a smooth and structured transition through 30 April, 2026.

Akasa Air started its first commercial operations on 7 August, 2022. The airline currently has a fleet of 33 Boeing 737 MAX aircraft. The airline is backed by the late Rakesh Jhunjhunwala’s family.

Who is Praveen Iyer?

Praveen Iyer is one of the multiple co-founders of Akasa Air, a made-in-India budget airline that recently started operating in the country.

Iyer, the chief commercial officer of the company, was also an executive member.

A business leader with over two decades of experience, he was formerly associated with Jet Airways and Qatar Airways.

Iyer has held several leadership positions covering global operations in fast paced and dynamic consumer focused businesses, according to the website of Akasa Airlines.

Having worked both in India and overseas, he has grown revenues and contributed to increasing profitability and margins.

“Building Akasa Air has been a defining journey and a deeply fulfilling experience. It has been a privilege to be part of an exceptional team, and I am proud of the achievements we have made in such a short span of time. I am confident the airline is well positioned for its next phase of growth and wish the leadership and employees continued success,” Iyer said on his journey at Akasa Air on Wednesday.

Akasa Air leadership. team

Backed by the Jhunjhunwala family, Akasa Air was started by a group of leaders from the aviation industry.

The team included former Go First and Jet Airways CEO Vinay Dube and former IndiGo President Aditya Ghosh. Vinay Dube serves as the CEO of the company.

The leadership team also includes —

• Praveen Iyer: Chief Information Officer, formerly with Go First and Qatar Airways.
• Belson Coutinho: Chief Marketing Officer, formerly worked at PwC and Jet Airways.
• Anand Srinivasan: Chief Information Officer, was formerly associated with Jet Airways.
• Bhavin Joshi: The Senior VP - Strategy, formerly worked at PwC and Jet Airways.
• Neelu Khatri: Fomer leader at Akasa Air who headed international operations and corporate affairs.

The other co-founders of Akasa Air include Sanjay Dube and Niraj Dube, who were there at nly the conceptualisation stage.