New Delhi, Jan. 23 -- Akasa Air, the country's youngest airline, remains well-capitalized, and it has more cash than when it started commercial operations in August 2022, according to Akasa Air chief executive officer Vinay Dube.

According to an executive privy to the development, this comes even as the airline nears closing a $120-million infusion of funds from a clutch of investors such as the family offices of billionaires Azim Premji and Ranjan Pai.

"We can't comment one way or the other (on capital raising plans)," Akasa Air's CEO Dube said in an interview with Mint on Thursday. "We are ecstatic with our financial performance, and Akasa is well capitalised," he said.

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