Akasa Airlines is set to become India’s 7th and cheapest Airline, backed by the Big Bull Rakesh Jhunjhunwala, ex-Jet Airway’s CEO Vinay Dube, and former IndiGo president Aditya Ghosh on board. The Akasa air plan has received initial clearance from the civil aviation ministry to launch the country’s exotic ULCC carrier and expects to begin flights across India next year.
What is Akasa?
Akasa is a ULCC (Ultra Low-Cost Carriers) Model launched by the billionaire Rakesh Jhunjhunwala, Vinay Dube, and Aditya Gosh. Jhunjhunwala, the investor, has onboarded the two most prominent aviation veterans that happen to be Jet Airway’s former CEO Vinay Dube and ex-Indigo president Aditya Ghosh to handle aviation operations smoothly.
The 7th Airline of India is all set to launch the low-cost carrier services by the summer of next year.
India’s Warren Buffet is all set to invest a total of $35 million and plans to have a fleet of 70 planes over the years. The airline targets to offer flights across India starting in the summer of 2022.
“Akasa Air will serve all Indians regardless of their socio-economic or cultural backgrounds,” Dube said in a statement.
Important things to know about the new Airline
- The Airline is backed by India’s stock expert Jhunjhunwala, ex-Jet Airway’s CEO Vinay Dube, and former CEO of IndiGo Aditya Ghosh.
- Akasa plans to offer flights across India to serve all walks of people by providing them with an affordable, dependable, and greenest Airline ever.
- The Airline plans to devise 70 planes in the next four years, PTI reported. The Airline has been in discussions with the US plane manufacturer Boeing to procure its B737 Max planes.
- The company has focused on keeping operation costs lower than the usual costs of airlines like IndiGo and SpiceJet.
- A chance for new players to emerge in the aviation sector is the closure of Jet Airways, the deprivation of Air India to the Tata Group, and the weary position of the other existing players. Moreover, with the vaccination rollout gaining momentum, market investors expect the sector to recuperate.
In an interview, Jhunjhunwala said: “I’m very bullish on the Indian aviation sector in terms of demand, and I think some of the increment players won’t recover.”
The Roles that decide the workflow
- Jhunjhunwala, India’s most successful stock investor, is again back and has taken a step forward in the aviation industry by investing $35 million in the venture; being the master, he is expected to own nearly 40 per cent of the stake in the Airline.
- Former President of domestic carrier IndiGo, Aditya Ghosh, will hold the position of a co-founder of the Akasa airlines. During his tenure at indigo aviation, he was massively credited for the increased market share and customer satisfaction; despite not having any prior experience in marketing or business, he managed to pull off the task significantly.
- Former CEO of Jet Airways and GoAir, Vinay Dube, is also exploring opportunities in launching the 7thAirline of the country, and he has collaborated with the Big bull for the same.
The Akasa airlines will soon launch in India, changing the dimensions of travelling, with the decision of keeping it a low-cost carrier it opens doors to the happiness of multiple Indians whose dreams of now flying in the air will be fulfilled in the upcoming year, being a domestic airline, we look forward to it for fulfilling our desires of a solid and comfortable flight that calms not cracks.
