India’s booming civil aviation sector sees a new entrant: Akasa Air
Preparing for take off
India's newest airline Akasa Air aircraft prepares for take-off from the Chhatrapati Shivaji Maharaj International Airport in Mumbai on August 7, 2022. The country’s youngest airline Akasa Air formally launched commercial operations when its maiden flight left Mumbai at 10.05 am for Ahmedabad on Sunday morning. The fully booked flight carried 189 passengers, including the cockpit and cabin crew.
India’s Warren Buffett
Akasa Air is backed by billionaire stock investor Rakesh Jhunjhunwala, who's betting on the fast-growing aviation market even as fuel prices soar.
Often referred to as India’s Warren Buffett, Jhunjhunwala has invested $35 million for a 40 per cent stake in the venture.
Initial operations limited to select number of cities
The airline will initially operate out of Ahmedabad, Bengaluru, Mumbai, and Kochi. Subsequently, from August 13, the airline would start flying an extra 28 weekly flights between Bengaluru and Kochi. With immediate effect, tickets are available to everyone. (In picture) Models posing in Akasa Air's new uniform which includes a trouser and jacket. The has been made using recycled polyester fabric which is made from pet bottle plastic salvaged from marine waste.
Minister flags off maiden flight
Ministry of Civil Aviation Jyotiraditya Scindia flagged off the operations virtually from New Delh. He said, “An old Hindi saying goes that a dark night is always followed by a new dawn. This indeed is a new dawn, a new awakening for the civil aviation sector in India in many ways than one.”
Akasa Air to rule skies with Boeing 737 MAX
Akasa Air will deploy Boeing 737 MAX aircraft, the first unit of which it received in June this year. The airline has ordered for 73 MAX aircraft earlier at the Dubai Airshow, with the first 18 scheduled to arrive by March 2023 and the remaining 54 scheduled to arrive during the ensuing four years.
The airline recently welcomed its first 737 MAX at the Indira Gandhi International airport in Delhi from Boeing's Seattle based facility. Earlier Airbus' Chief Commercial Officer Christian Scherer mentioned that Airbus is in conversation with Akasa for an aircraft procurement deal.
Cut throat competition
The entry of the new cheap airline carrier, Akasa Air, will likely pose tough competition to the the other low cost airline like IndiGo, which currently dominates the Indian civil aviation market. It will also take on TATA's Vistara and recently acquired Air India, and SpiceJet as the market battles high fuel aviation cost.
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