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After the completion of two months of its operations, <keyword id="11911527" type="General" weightage="100" keywordseo="akasa-air" source="Orion">Akasa Air</keyword> is set to establish Delhi as the sixth destination on its network and inaugurate its first flight on the Delhi-Bengaluru and Delhi-Ahmedabad routes on October 7. The airline also announced Pets-on-Board, a pet-friendly service in line with its commitment to create an inclusive travel experience. Both the new routes will be served with daily flights in each direction. The airline has announced eight destinations so far, including Mumbai, Ahmedabad, Bengaluru, Kochi, Chennai, Delhi, Agartala and Guwahati being covered with 11 non-stop routes. <keyword id="2929104" type="General" weightage="80" keywordseo="akasa" source="Orion">Akasa</keyword> Air, India's newest airline, has completed the first two months of its commercial journey in building India's greenest, most dependable, and most affordable airline. Speaking at an event to mark the airline's first 60 days of operations, <keyword id="4593743" type="General" weightage="50" keywordseo="vinay-dube" source="Orion">Vinay Dube</keyword>, Founder and Chief Executive Officer, Akasa Air said, "Our first two months have been very exciting and satisfying as we moved from planning to commercial operations. We have been hyper focussed on establishing and delivering an empathetic, dependable, and reliable flying experience unlike anything witnessed in the Indian skies thus far". Commenting on the rapid network expansion, <keyword id="3952991" type="General" weightage="50" keywordseo="praveen-iyer" source="Orion">Praveen Iyer</keyword>, Co-Founder, and Chief Commercial Officer, Akasa Air, said "We are elated by the response we have received as we welcomed on board more than 100,000 passengers within just 60 days of operations. Further strengthening our domestic connectivity and catering to more flyers during the festive season, we are delighted to be able to add Delhi to our network and connect the capital city to the rapidly growing and vibrant cities of Bengaluru and Ahmedabad. By expanding our network with an aircraft arriving every 15 days, we aim to fulfil our goal of developing a strong pan-India presence and expect to operate 300 weekly flights by October end." Speaking on product, service and customer experience, Belson Coutinho, Co-Founder and Chief Marketing &amp; Experience Officer, Akasa Air said, "We set out with a promise to be a dependable airline focussing on warm, efficient, and reliable service". As we continue with our vision to create an inclusive and humane travel experience, Akasa's pet-friendly service will commence from 1st November 2022, wherein passengers flying on Akasa Air will be able to travel with their pets in the cabin. Taking an additional step to ease the travel experience of pet parents and their wards, we have joined hands with <keyword id="7747778" type="General" weightage="50" keywordseo="umeed-for-animals-foundation" source="Orion">Umeed for Animals Foundation</keyword> to ensure smooth pet-friendly travel", he added. Akasa Air has been progressively expanding its network across the country, in a phased approach with a commitment towards making travel accessible in India through the introduction of routes in Tier 2 and 3 cities. The company has recently received its sixth aircraft and will have a fleet size of 18 aircraft by the end of March 2023. Over the next four years, the airline will add 54 additional aircraft, taking its total fleet size to 72 aircraft. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/insider-picks/news/98-of-companies-responsible-for-80-of-corporate-greenhouse-emissions-refuse-to-disclose-their-climate-change-impacts-study/articleshow/94678938.cms">98% of companies responsible for 80% of corporate greenhouse emissions refuse to disclose their climate-change impacts: Study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/road-safety-body-urges-withdrawal-of-notification-that-makes-6-airbags-mandatory-in-pvs/articleshow/94678279.cms">Road safety body urges withdrawal of notification that makes 6 airbags mandatory in PVs</a>

Akasa Air launches maiden flights from Delhi, to allow pets in the cabin

<ul><li>The sudden demise of founder <keyword id="6398943" type="General" weightage="20" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword> raised questions over the future of <keyword id="11911527" type="General" weightage="20" keywordseo="akasa-air" source="Orion">Akasa Air</keyword>.</li><li>However, CEO Vinay Dube has emphasised that Akasa Air’s future and operations are secure.</li><li>It is India’s seventh airline along with IndiGo, Air India, Vistara, SpiceJet, Go Airlines and Jet Airways.</li></ul>Akasa Air is well-capitalised to induct 72 aircraft over the next five years thanks to the visionary role played by Rakesh Jhunjhunwala, the newly launched airline’s CEO Vinay Dube said on Wednesday. He noted that the company’s financial platform was strong enough to allow Akasa to place a much larger aircraft order in the next 18 months. Akasa Air was the latest venture of stock market mogul Rakesh Jhunjhunwala, who passed away on Sunday morning. The airline took its maiden flight on <a href="https://www.businessinsider.in/india/news/akasa-air-takes-to-the-skies-flagged-off-by-civil-aviation-minister/articleshow/93420016.cms">August 7</a>, exactly a week before his death. “In simple terms, our growth is secure,” Dube said on Tuesday, taking delivery of Akasa Air’s third aircraft. The sudden demise of Akasa Air’s founder Jhunjhunwala raised questions over the future of the airline. However, Dube has repeatedly emphasised that Jhunjhunwala demise was not going to have an impact on the airline’s operations and future. “We are also thankful that Mr. Jhunjhunwala supported us in recruiting some of the best aviation talent in the country. He wanted us to have a top-notch leadership team that made all day-to-day decisions at the airline without having to fall back on him or any other investor. Anyone that saw him on our inaugural flight on August 7th knows how proud he was of each Akasa employee and partner,” Dube said. READ MORE: <a href="https://www.businessinsider.in/thelife/personalities/news/rakesh-jhunjhunwala-the-man-beyond-the-trader/articleshow/93592898.cms">Life and times of Rakesh Jhunjhunwala — the man behind the trader</a> He noted that Jhunjhunwala recognised India’s potential to be one of the fastest-growing aviation markets in the world. “Akasa Air will honour Mr. Jhunjhunwala’s legacy, values, and belief in us by striving to run an extraordinary airline,” he concluded. The airline received<a href="https://www.google.com/search?q=Akasa+air+business+insider+rakesh+aOC&amp;rlz=1C1CHBD_en__960__960&amp;ei=5rv8YoXxEPydseMPnNCA6AE&amp;ved=0ahUKEwiF_PnQzs35AhX8TmwGHRwoAB0Q4dUDCA4&amp;uact=5&amp;oq=Akasa+air+business+insider+rakesh+aOC&amp;gs_lcp=Cgdnd3Mtd2l6EAMyBQghEKABMgUIIRCgAToHCAAQRxCwAzoKCAAQRxCwAxDJAzoFCAAQogQ6BwghEKABEApKBAhBGABKBAhGGABQ9AJY1AdgngpoAXAAeACAAakCiAGqB5IBAzItNJgBAKABAcgBCMABAQ&amp;sclient=gws-wiz"> its Air Operator Certificate (AOC) </a>from the civil aviation regulator Directorate General of Civil Aviation (DGCA) in July this year. It is India’s seventh airline along with IndiGo, Air India, Vistara, SpiceJet, Go Airlines and Jet Airways. SEE ALSO <a href="https://www.businessinsider.in/thelife/personalities/news/rakesh-jhunjhunwala-the-man-beyond-the-trader/articleshow/93592898.cms">Life and times of Rakesh Jhunjhunwala — the man behind the trader</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/news/after-netflix-indian-regional-platform-aha-pins-its-hope-on-advertising-to-bring-in-revenue-and-profitability/articleshow/93587302.cms">Aha takes the Netflix way to reach out to subscribers from small towns</a> <a href="https://www.businessinsider.in/stock-market/news/markets-to-continue-its-gaining-streak-ahead-of-us-fed-policy-outcome/articleshow/93606421.cms">Markets to continue its gaining streak ahead of US Fed policy outcome</a>

Akasa Air has enough capital to induct 72 aircraft thanks to Rakesh Jhunjhunwala’s visionary role, says CEO

<keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s new airline, <keyword id="11911527" type="General" weightage="80" keywordseo="akasa-air" source="Orion">Akasa Air</keyword>, on Thursday got its <keyword id="4542593" type="General" weightage="20" keywordseo="air-operator-certificate" source="Orion">Air Operator Certificate</keyword> (<keyword id="212097" type="General" weightage="80" keywordseo="aoc" source="Orion">AOC</keyword>) from the Directorate General of Civil Aviation (DGCA). "The grant of the AOC is the final step of a comprehensive and rigorous process laid down by the DGCA and marks the satisfactory completion of all regulatory and compliance requirements for the airline's operational readiness," Akasa Air said in a statement. The airline added that it is the first airline whose end-to-end AOC process was conducted using the government's progressive eGCA digital platform. The process concluded with the airline having successfully conducted a number of proving flights under the supervision of the country's aviation regulator, the company said. "We now look forward to opening our flights for sale, leading to the start of commercial operations by late July. This will begin our journey towards building India's greenest, most dependable and most affordable airline," said Vinay Dube, Founder and Chief Executive Officer, Akasa Air. Akasa Air, whose airline code is QP, received its first 737 MAX on June 21. Later this month, the airline will commence commercial operations with two aircraft, subsequently adding to its fleet every month. By the end of the 2022-23 fiscal, the airline will have inducted 18 aircraft and thereafter 12-14 aircraft every 12 months, which will make up its order of 72 delivered over five years, the company said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/voice-tech-is-evolving-rapidly-here-are-the-top-trends-in-voice-tech-to-watch-for/articleshow/92727686.cms">Voice tech is evolving rapidly. Here are the top trends in voice tech to watch for</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/taiwanese-crypto-exchange-suspends-trading-in-rupees-after-tds-laws-kick-in/articleshow/92727555.cms">Taiwanese crypto exchange suspends trading in Rupees after TDS laws kick in</a>

Rakesh Jhunjhunwala-backed Akasa Air to start operations this month

<ul><li><keyword id="6398943" type="General" weightage="20" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword>’s <keyword id="11911527" type="General" weightage="20" keywordseo="akasa-air" source="Orion">Akasa Air</keyword> has received its first aircraft from Boeing.</li><li>The aircraft will fly to Delhi early next week, even as the airline is yet to receive its air operator permit.</li><li>Akasa Air plans to launch its first domestic flight in July this year.</li><li>It has ordered 72 planes in total and aims to get 18 planes by March 2023.</li></ul>Rakesh <keyword id="45125" type="General" weightage="20" keywordseo="jhunjhunwala" source="Orion">Jhunjhunwala</keyword>’s Akasa Air on Thursday announced that it has received the delivery of its first aircraft, Boeing 737 Max, in Seattle. The airline had shared the first images of its aircraft a couple of weeks ago. Akasa Air has ordered 72 planes in total and aims to get 18 planes by March 2023. "Flying an advanced, environmentally progressive 737 MAX fleet with greater fuel efficiency and lower operating costs will enable Akasa Air to profitably serve the Indian market while passing those savings on to its passengers,” Stan Deal, president and CEO of Boeing Commercial Airplanes, said. “This is indeed a symbolic milestone in the journey of Akasa Air, bringing us one step closer to the process of obtaining our AOP [Air Operator Permit] and leading to out commercial launch, focused on the task of delivering on our vision to transform India’s air transportation ecosystem, support the nation’s economic growth engine and help fellow Indians chase their dreams,” Vinay Dube, founder, MD and CEO of Akasa Air, said. Akasa Air, which is owned by Rakesh Jhunjhunwala, was founded by former Jet Airways chief Dube and former IndiGO president Aditya Ghosh. It has already signed up 154 pilots for the airlines, about 26 of these pilots are already on the company’s payroll. Besides this, it has also signed up 115 cabin attendants and 14 engineers to join the company. The company plans to launch its first domestic flight in July this year. It will be eligible for international travels once it has boarded 20 aircrafts in its fleet. <cmsannotation type="cmsannotation" annotationid="Seventh Indian airline to have a bird in the sky" comment="subhead" text="Seventh Indian airline to have a bird in the sky">Seventh Indian airline to have a bird in the sky</cmsannotation> Akasa Air will be India’s seventh airline with IndiGo, Air India, Vistara, SpiceJet, Go Airlines and Jet Airways, which resumed its operations in April this year Akasa Air is yet to appear before the Director General of Civil Aviation (DGCA) for a proving flight, which is a requirement to get the license of an air operator. The company received its initial no-objection certificate on October 11 and has applied for Air Operator Permit (AOP). SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ril-hdfc-sbi-zomato-among-stocks-to-watch-out-for-on-june-16/slidelist/92242578.cms">RIL, HDFC, SBI, Zomato among stocks to watch out for on June 16</a> <a href="https://www.businessinsider.in/business/startups/news/cashe-is-now-offering-instant-loans-on-whatsapp-in-30-seconds/articleshow/92230354.cms">A company is now offering instant loans on WhatsApp in 30 seconds</a> <a href="https://www.businessinsider.in/business/startups/news/ronnie-screwvalas-upgrad-is-now-worth-more-than-2-billion/articleshow/92227976.cms">Ronnie Screwvala's UpGrad reportedly worth over $2 billion after fund infusion by Lakshmi Mittal and Sunil Bharti Mittal</a>

Ready to take off – Rakesh Jhunjhunwala's Akasa Air receives its first Boeing aircraft

Mumbai, Mar 21 () Wadia group-owned budget carrier GoAir on Saturday announced the appointment of aviation industry veteran Sanjiv Kapoor as advisor to the airline. Kapoor, who quit the Tata-SIA joint venture airline Vistara recently after serving as its chief strategy and commercial officer, will advice GoAir on important business and government matter, the airline said in a release. Significantly, GoAir's current chief executive officer Vinay Dube too had initially been roped in as an advisor by the budget carrier, which keeps witnessing exit from the top deck at frequent intervals. "I welcome Sanjiv to the ever growing GoAir family. His strong domain knowledge and deep expertise in the aviation sector will help GoAir in multiple ways," Dube said in the release. Kapur has also been associated in the past with SpiceJet, where he handled the position of Chief Operating Officer. IAS DRRDRR

GoAir appoints Sanjiv Kapoor as advisor

By Deepak Patel New Delhi, Mar 25 () As the coronavirus pandemic has drastically impacted revenues of the aviation sector, GoAir CEO Vinay Dube stated on Wednesday that all employees will be taking a pay cut in March. During the last few weeks, GoAir has already taken some cost cutting measures -- it has laid off its expat pilots, asked its employees to go on leave without pay on a rotational basis, and announced that its top leadership would be taking a pay cut of up to 50 per cent. Dube told employees in an official communication, "Under the current conditions we find ourselves in we are left with no choice but to extend salary cuts for all of us for the month of March. We will ensure that the lowest pay grades suffer the least." India has banned international commercial passenger flights for a period of one week from Sunday. Moreover, domestic flights have also been suspended from Tuesday midnight. Last week, IndiGo CEO Ronojoy Dutta stated that the senior employees of the low-cost carrier will have a pay cut of up to 25 per cent. Air India also announced that the pandemic has caused "insurmountable dip" in revenues and therefore, it is reducing the allowances of all employees - except cabin crew - by 10 per cent for the next three months. DSP SMNSMN

Coronavirus: GoAir says all employees will have pay cut in March

Mumbai, Feb 17 () Budget carrier GoAir on Monday said it has appointed Jet Airways former senior executive Praveen Iyer as its chief commercial officer. Iyer moves to the Wadia family-run airline from Visa services provider VFS Global, where he was working as chief operating officer after quitting the now-defunct carrier Jet Airways. The announcement of Iyer's appointment to the post comes close on the heels of Jet Airways former CEO Vinay Dube stepping in as GoAir's Chief Executive Officer last week after serving as advisor to the carrier for nearly five months. "I welcome Iyer to the ever-growing GoAir family. His strong domain knowledge and deep expertise in formulating commercial strategy and driving revenue, sales and network planning will play a key role in GoAir's next phase of growth and overall profitability," Dube said in a release. At Jet Airways, Iyer was responsible for planning, distribution, pricing, revenue management, ancillary and sales, according to the release. Besides, he has also led teams in developing new market segmentation, implementing new customer acquisition strategies and forming global alliances and partnerships, it said. IAS HRS

GoAir appoints Praveen Iyer as chief commercial officer

<div class="KonaFilter image-container display-table"><div><div class="image on-image">AirbusA Jet Airways Airbus A330-200.</div></div></div><ul class="summary-list"><li>India's <a href="https://www.businessinsider.com/category/jet-airways" target="_blank" rel="noopener">Jet Airways</a> suspended flight operations on Wednesday.</li><li>The Mumbai-based <a href="https://www.businessinsider.com/category/airline" target="_blank" rel="noopener">airline</a> has been struggling in recent months to secure short-term funding and long-term investment.</li><li>According to <a href="https://www.businessinsider.com/category/npr" target="_blank" rel="noopener">NPR</a>, the airline is saddled with more than $1 billion in debt.</li><li>The company's lenders are looking for an investor to buy the airline.</li><li>Should Jet's lenders fail to find a new buyer, the carrier will join <a href="https://www.businessinsider.com/category/wow-air" target="_blank" rel="noopener">Wow Air</a> and Primera as airlines that have failed since October. </li></ul>India's Jet Airways suspended flight operations on Wednesday. The Mumbai-based airline has been struggling in recent months to secure short-term funding and long-term investment. As a result, the company was forced to stop flying due to its inability to pay for fuel and other expenses."It is with deep sadness and with a heavy heart that we would like to share with you that, effective immediately, Jet Airways will be suspending all its domestic and international operations," Jet Airways CEO Vinay Dube said in a statement. Founded in 1993, Jet Airways grew to become India's most prominent international airline with a fleet of more than 115 aircraft. However, the airline's fleet dwindled to less than 20 aircraft in the days before it ceased flight operations, the <a href="https://www.scmp.com/news/hong-kong/transport/article/3006103/collapse-jet-airways-bad-everyone-cost-flight-india-soars" target="_blank" rel="noopener">SCMP reported</a>. The bulk of the airline's planes had been grounded due to missed lease payments. Aircraft leasing companies have initiated repossession actions against Jet Airways for the missed payments. Read more: <a href="https://www.businessinsider.com/airlines-that-go-out-of-business-2019-3" data-analytics-position="15">22 famous airlines that have gone out of business</a>.According to <a href="https://www.npr.org/2019/04/18/714645183/mounting-debt-forces-hard-landing-for-indias-jet-airways" target="_blank" rel="noopener">NPR</a>, the airline owes debts of more than $1 billion while the entire company was valued at just $260 million. The current valuation pales in comparison to its $1.6 billion valuation during the airline's heyday.Jet Airways founder and chairman Naresh Goyal stepped down from the airline in late March.Even though Jet Airways has stopped flying, its CEO believes the airline can be saved as the company's lenders are currently working to broker a sale to new investors. "We sincerely and profusely apologize for the disruption to your travel plans. We would like to thank you for your continued patronage, support, and loyalty over the years," Dube said in a statement.<div>"We are hopeful that we will be able to bring the Joy of Flying back to you soon."Should Jet's lenders fail to find a new buyer, the carrier will join this list of five other airlines that have failed since October. </div>

Jet Airways is on the brink of collapse. Here are 5 airlines that have gone bust since October.

<ul class="summary-list"><li>Akasa Air, an ultra-low-cost Indian carrier, <a href="https://www.reuters.com/world/india/indias-akasa-air-orders-72-boeing-737-max-jets-2021-11-16/">placed</a> a $9 billion order for 72 Boeing 737 MAX Jets last week.</li><li>The airline could potentially lift up the entire Indian aviation segment, industry analysts say.</li></ul>Judith Philip is stressed. The 32-year-old auditor's work schedule is packed and her only retreat is travel, but the pandemic hit her sole recreation badly. To make up for lost time, Philip is pinning her hopes on an upcoming solo trip to Sri Lanka."I think I might do a lot of revenge travel once these restrictions are lifted and things get a bit better," Philip told Insider from the southern Indian city of Bangalore.She is among millions of travelers waiting in the wings to cruise Indian skies as the country's aviation sector braces for a shake-up. At the heart of this shake-up stands to be a freshly minted airline, Akasa Air. Ever since its public debut in July, Akasa has become the most talked-about airline in the country. And on November 16, it <a href="https://www.reuters.com/world/india/indias-akasa-air-orders-72-boeing-737-max-jets-2021-11-16/">placed</a> a $9 billion order for 72 Boeing 737 MAX jets. The airline could potentially lift up the entire Indian aviation segment, which has been grappling for several years, industry analysts say.Unlike <keyword id="11898285" type="UNKNOWN" weightage="60" keywordseo="airlines" source="Orion">airlines</keyword> that ground their fleets in capital Delhi or financial hub Mumbai, Akasa's fleet stands to be mostly based in the Indian tech capital of Bangalore. While Akasa's exact routes have not yet been announced, they are expected to reach less-travelled destinations at less expensive fares.Backed by billionaire investor Rakesh Jhunjhunwala – nicknamed <a href="https://www.forbes.com/profile/rakesh-jhunjhunwala/">India's Warren Buffett</a> and Big Bull for his smart investments — the carrier aims to be the resurrector of a turbulent domestic market in Asia's third-largest economy.But Jhunjhunwala and Akasa are entering the aviation industry at a historically difficult time: The pandemic is far from over, and the market is crowded, plagued by collapsing carriers, and difficult to turn a profit in.Jhunjhunwala did not respond to multiple requests from Insider for comment for this story.<h2>Room for growth</h2>Until the turn of the decade ending 2010, air travel was luxury only affordable for the affluent in <keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword>.A country of about 1.4 billion people, India has about<a href="http://www.knowindia.net/aviation7.html"> 650 passenger jets</a>. Domestic airlines carried 144 million flyers in 2019, according to the regulatory body <a href="https://www.dgca.gov.in/digigov-portal/?page=jsp/dgca/InventoryList/dataReports/aviationDataStatistics/handbookCivilAviation/HANDBOOK2018-19.pdf&amp;main4252/4205/sericename">Directorate General of Civil Aviation.</a> By comparison, the US (population 333 million) has over <a href="https://www.faa.gov/air_traffic/by_the_numbers/">5,000 civilian aircraft</a>, while China (population 1.44 billion) operates <a href="http://www.xinhuanet.com/english/2019-07/18/c_138237617.htm">close to 3,700</a> passenger jets.Today, trains remain the preferred mode for the long-distance journeys of the masses in India. In the 12 months <a href="http://indianrailways.gov.in/railwayboard/uploads/directorate/stat_econ/Annual-Reports-2019-2020/Year-Book-2019-20-English_Final_Web.pdf">ending March 2020,</a> Indian trains ferried over eight billion travelers.But as India's middle class grows and competing airlines keep the price of domestic airfare low, air travel is slowly becoming a viable mode of transport for more people. Delhi aims to unveil <a href="https://twitter.com/MoCA_GoI/status/1357015867448455169">over 200 new airports</a> across the vast country in the next four years and is rapidly expanding the existing airports. Prime Minister Narendra Modi's administration expects civil aviation to play a crucial role in its ambitious goal of making <a href="https://www.narendramodi.in/pm-modi-s-aspirational-call-for-5-trillion-dollar-economy-in-5-years-547486">India a $5 trillion economy </a>by 2024."We can expect huge growth in the next five to 10 years," Sanjay Kumar, chief strategy and revenue officer of IndiGo, told Insider of the Indian aviation market. IndiGo is India's market leader in domestic traffic <a href="https://www.ibef.org/industry/indian-aviation/showcase/indigo">with 55% share.</a>"The growing middle-class population will start traveling as the Americans or Chinese do. We've so far not seen this [in India] at all," Kumar added.<h2>A volatile market</h2>Until the second half of 2018, India was home to the fastest-growing aviation market in the world, with passenger numbers ballooning.Growth nosedived in 2019 due to factors including crew shortage, taxes on jet fuel, and unsustainable business models.At the heart of India's spiraling airline crisis was <a href="https://www.businessinsider.com/jet-airways-shuts-down-after-running-out-of-money-2019-4">the collapse of Jet Airways</a>, the country's oldest and first successful private airline. Mounting debts, poor acquisitions, and cheaper prices offered by rivals killed the 26-year-old Jet Airways.The Indian aviation market is so volatile that about <a href="https://en.wikipedia.org/wiki/List_of_defunct_airlines_of_India">50 players have shut shop</a> in the past three decades and changed billionaires into millionaires.And this was all before the pandemic decimated the industry.But a troubled industry also means abundant talent in the market for hire, low asset costs, and weakened competitors, factors that could play a role in Jhunjhunwala's favor.<h2>A market dominated by low-cost carriers</h2>Unlike the aviation markets of the western world, where the segment is multi-layered and caters to a wide range of travelers, carriers in India need to keep a close watch on ticket costs. About 80% of <a href="https://www.dgca.gov.in/digigov-portal/?page=jsp/dgca/InventoryList/dataReports/aviationDataStatistics/handbookCivilAviation/HANDBOOK2018-19.pdf&amp;main4252/4205/sericename">the market share</a> in India is cornered by low-cost carrier models (LCC), which make a profit through volume by selling seats at cheap rates.Six large airlines dominate the domestic skies in India: IndiGo, SpiceJet, GoAir (which rebranded as GoFirst), AirAsia India, Vistara, and Air India. While Vistara and Air India are classified as no-frills carriers, the rest operate as LCC.Unlike all other existing market players, Akasa is an ultra low-cost carrier (ULCC), which means every little space inside the plane – from paper cups or luggage bins — is for sale for advertising. Further, Akasa can cut back on all expendable costs and fly more hours a day while keeping the seat fares separate from all other related services like food. It's basically like the Spirit Airlines of India.Akasa is expected to launch operations by early or mid 2022, if the speculation in the industry is proved right. Akasa has been busy hiring industry veterans including Vinay Dube, the former CEO of Jet Airways, and Aditya Ghosh, the former CEO of Indigo. <a href="https://centreforaviation.com/data/profiles/airlines/akasa">Regulatory approvals </a>are on track.Yet, the fate of Akasa depends on more than a billionaire backer and experienced leadership. Other variables at play in the airline's success include how it manages its fleet composition, distribution models, and the choice of flying destinations.<a href="http://www.knowindia.net/aviation7.html">Airbus dominates</a> the Indian skies: The A320 family makes up 70% of all passenger aircraft in the country.The advent of Akasa means an opportunity for American planemaker Boeing to make a breakthrough in a crucial market.Akasa hopes to operate a fleet of 70 aircraft in four years, ​​Jhunjhunwala told <a href="https://www.bloomberg.com/news/articles/2021-07-28/indian-billionaire-investor-plans-70-planes-for-new-airline">Bloomberg</a> in a television interview in July. Boeing's market outlook, meanwhile, predicts there will be demand for 2,200 commercial jets in the next two decades."In India, domestic traffic is leading the recovery. We're seeing double-digit monthly improvements in operations as vaccine rates improve and travel restrictions begin to loosen," Salil Gupte, president of Boeing India, told Insider.Gupte estimates passenger traffic numbers in India will reach pre-pandemic levels by 2023 or 2024."We are honored that Akasa Air, an innovative airline focused on customer experience and environmental sustainability, has placed its trust in the 737 family to drive affordable passenger service in one of the world's fastest-growing aviation regions," said Stan Deal, Boeing commercial airplanes president and CEO, following the deal.<h2>Challenges Ahead</h2>Industry experts say Jhunjhunwala's Akasa appears set to take Indian civil aviation to new heights, but they add caveats.For instance, fixed costs like lease, parking, maintenance, and staff salaries make up 40% of an airline's cost structure, according to IndiGo's Kumar. To be successful, Akasa must get the combination of these correct, industry experts said."Akasa's bet is on the fragility of one or more carriers and as a well-capitalized new entrant, it may very well be able to gain a strong foothold," said Satyendra Pandey, managing partner at India-based aviation services firm AT-TV.Rival carriers are bound to match Akasa's fares from day one of its operations, Pandey said – which means it'll be entering a profitless growth environment. A careful assessment of the market should incorporate both business and behavioral trends, Pandey said."Force-fitting western frameworks just does not work. Getting this wrong has meant that even extremely well-funded airlines have consistently failed to turn a profit and witnessed continuous margin deterioration. Levers that worked pre-pandemic may not quite work the same," Pandey added."If the ULCC model is implemented, Akasa Air may expand the overall market by stimulation due to low airfares," said Manvi Hooda, chief of consulting and research at the aviation consulting firm, CAPA India."India remains an under-penetrated air travel market. Given India is a value-sensitive market, low airfares can significantly stimulate the market," said Hooda.

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