India, Feb. 6 -- India's youngest airline, Akasa Air, said on Thursday that it has signed agreements with investors to raise fresh capital. The airline said that a group of prominent Indian investors, including Premji Invest (the investment arm of Azim Premji), Claypond Capital (Dr. Ranjan Pai's investment office), and funds managed by 360 ONE Asset, an asset management firm, have signed agreements to invest in Akasa Air.

The airline said the family of late billionaire Rakesh Jhunjhunwala has committed additional capital to support the airline. Jhunjhunwala's investment in August 2022 played a key role in starting the airline.

"These agreements are pending regulatory approval," the airline said.

Akasa Air has a market share of 4.6%, ne...