Key Points
Having drawn inspiration from the model of Dublin-based airline, Ryanair, of low cost and sustained profitability, Indias newest airline Akasa Airs journey to the top of the charts has been rather astounding..
Since it started flying in 2022, Akasa has garnered a market share of 4 per cent as against another low-cost but much older airline SpiceJet's 5.6%..
A former American Airlines operations research analyst who also worked with Delta Airlines for more than a decade and helmed two Indian airlines, now grounded: GoAir and Jet Airways, Vinay Dubes commitment to form Akasa Air was birthed during the COVID-19 pandemic, a challenging time for businesses across sectors, especially the travel industry...
In a crowded yet growing industry, Dube formed a strong team with industry veterans like former IndiGo chief Aditya Ghosh as his co-founder and ex-VP of Jet, Praveen Iyer, as co-founder and the Chief Commercial Officer.. Further, Akasa also planned to offer stock options to attract staff, using a lure more often deployed by technology startups in its bid to gain a foothold in one of the worlds most competitive air-travel markets...
Praveen Iyer had mentioned about adopting a phased approach to support their network expansion plans, progressively connecting more cities, as they plan to add two aircraft to Akasas fleet each month, in the airlines first year...
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