Indian Oil Signs LoI with Akasa Air for Sustainable Aviation Fuel Supply

Indian Oil Corporation Ltd (IOCL) has signed a Letter of Intent (LoI) with Akasa Air to explore future supply of Sustainable Aviation Fuel (SAF), marking a key step toward reducing carbon emissions in India’s fast-growing aviation sector. 

Key Development 

The LoI was signed during Wings India 2026 in Hyderabad, establishing a framework for collaboration between Indian Oil and Akasa Air to assess SAF supply volumes, delivery locations, timelines, and sustainable production pathways.  

SAF is seen as a crucial solution for lowering lifecycle greenhouse gas emissions from air travel and supporting the industry’s transition toward net-zero emissions. 

Management Statements 

“This LOI reflects our commitment to scaling low-carbon fuels and supporting our customers in their energy transition. By leveraging our expertise across fuel production, supply, and logistics, we aim to play a meaningful role in enabling an early transition to the usage of SAF,” said Shailesh Dhar, Country Head (Aviation Business) at Indian Oil Corporation Ltd, as per exchange filings. 

Indian Oil Share Price Performance  

As of January 30, 2026, at 9:51 AM, Indian Oil share price is trading at ₹162.75 per share, reflecting a decline of 0.21% from the previous closing price.  

Read More: Why Oil Stocks Are Rallying Today: ONGC, Oil India Jump Up to 10% on Crude Price Surge? 

Conclusion 

The partnership highlights Indian Oil’s expanding role in clean energy solutions and strengthens Akasa Air’s sustainability roadmap as India accelerates its aviation decarbonisation efforts. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.