Bullish on the long term growth potential of the country's civil aviation sector, ace investor Rakesh Jhunjhunwala-backed carrier is looking to have 18 planes in its fleet by the end of March 2023. Despite COVID clouds continuing to cast a shadow on the airlines, Akasa Air CEO Vinay Dube is more than optimistic as he asserted that "if you look at the long term future of commercial aviation in India, it is as exciting as anywhere in the world".

Sunil Nair, CEO and Whole-Time Director of the company discussed the fineprint and outlook for 2022.

In the corresponding quarter last year, the company posted a net profit of Rs 425 crore. The company's total income increased to Rs 1,558.89 crore in the latest quarter under review from Rs 834.51 crore in the year-ago period.

"96 percent of depositors, have deposits up to Rs 5 lakhs, will be paid upfront (subject to completion of the requirements as per DICGC rules). These depositors can choose to either withdraw or retain this amount with Unity Bank; or make additional deposits, and take advantage of the attractive interest rate up to 7%, being offered on savings accounts," the bank said in a press release.