New Delhi, Feb. 6 -- Akasa Air, India's youngest airline, has raised an undisclosed sum from a number of investors, including the family offices of Bengaluru-based billionaires Azim Premji and Ranjan Pai.

Akasa Air, which started flying in 2022, has become the country's third-largest carrier with a market share of 4.6%. Media reports in the past had said the airline was in talks to raise between $130 and $140 million.

"These are not just financial transactions; they are an investment in our vision and commitment to building an airline for generations," Akasa Air founder and chief executive officer Vinay Dube said in a statement on Thursday.

Dube said the fresh funding should help the carrier become one of the top 30 global airlines by ...