Akasa airlines owner

It was in October 2021, the world was recouping from an unprecedented crisis:The effects of the second wave of COVID-19. The economy was dwindling, however, the quandary did not deter Vinay Dube from realizing his dreams. SNV Aviation, which will fly under the brand name Akasa Air, finally got the no objection certificate (NOC) from the ministry of civil aviation in 2021. Soon, Dube, founder and CEO Akasa Air, started to prepare for the maiden flight scheduled on 07 August 2022. The low-cost carrier (LCC), aimed to be a category-defining airline…so, how successful has it been in achieving the targets? The delivery of 18 aircraft within the first eight months made it the fastest growing airline globally, today, its fleet size stands at 19. Within nine months of operation, its market share stands at five per cent. The airline topped the on-time performance(OTP) in the month of April and had been consistent since the beginning of its operations. The airline also clocked an increase in its passenger load factor in April, at 84.9 per cent. The CEO attributes the success to its management team, "A professional management team is the secret behind our smooth operations, they're the ones that lay the foundation," says Dube. His nearly three-decade experience in the aviation sector across the US (with stints at Delta Air Lines, American Airlines) and India meant that he knew the air travel business backwards and forwards. Business expansion As travel demand grows, India expects to ...

Rakesh Jhunjhunwala, who owned 40 per cent of Akasa Air, made his final public appearance on August 7 during the airline's inaugural flight between Mumbai and Ahmedabad. It is to be noted that Akasa Air started its operations on the same day by successfully completing its inauguralflight. "Normally, a child is born in 9 months; we (Akasa Air) took 12 months. It would not have been possible without the cooperation of the Ministry of Civil Aviation," he had said in his short speech at the Mumbai airport. Nowhere in the world has an airline been conceived and born in 12 months, he had said. "I must thank you (Aviation Minister Jyotiraditya Scindia) because people say that India has a very bad bureaucracy, but the cooperation that the Ministry of Civil Aviation has given us, it is unbelievable,"he had mentioned. Also read: After giving his speech, Jhunjhunwala also travelled on the inaugural flight. Scindia had virtually inaugurated the first flight of the airline from Delhi. In a statement, Akasa Air said it was deeply saddened by the demise of Jhunjhunwala. "Our thoughts and prayers are with Mr Jhunjhunwala's family and friends. May his soul rest in peace," Vinay Dube, founder and CEO of Akasa Air, said in the statement. "We at Akasa cannot thank Mr Jhunjhunwala enough for being an early believer is us and putting his trust and faith in us to build a world-class airline. Mr Jhunjhunwalah had an invincible spirit, was deeply passionate about everything Indian, and cared great...

Not at this point. We still have our plans to launch by this summer: in the May, June, July timeframe. We are still working on our regulatory approvals that are required for us to start and many other things beyond the regulatory approvals that an airline requires to actually launch commercial operations. And so, all of that is working and we're on track. There is no change in our approach. In fact, we have not yet locked in on the first or second routes that we will operate on. We will work with various airports, both private and the Airport Authority of India to see what we actually get from them in terms of slots and parking bays and other items that are required for an airline to be able to nail down its schedule, at a certain level of detail. When do you expect to get your first Boeing 737 aircraft? And how many do you aim to get by March 2023? The first aircraft will come sometime after the 15th of April. We will need that first aircraft for the completion of our air operators’ certification (AOC) process. I think we’d like to have 18 aircraft by March 2023. We will have a team and a network that is commensurate with that tally. We now have over 50 people. We have started recruiting cockpit and cabin crew. We have also started recruiting ground personnel. You are entering the industry when the pandemic has impacted demand but also created pent up reserves of it... We are entering aviation for what we feel is going to be an industry that will continue to grow for the ...

"We are incredibly thankful to our investors. Our focus is on launching a good airline with happy customers and happy employees. We have spent the last two years working on cost structure and now our focus lies on customers and employees," Dube said. The airline had recently launched the cabin crew uniform which also showed the cabin crew wearing sneakers in place of heels. The team behind Akasa also includes Aditya Ghosh who is the co-founder of the airline and is no stranger to the aviation world. He spent 10 years at IndiGo as the president and whole-time director. Ghosh added that they aim to have employee-friendly policies and want Akasa to be a listening organisation that acts on employees' feedback. "During my time at IndiGo, the pilot attrition rate was 0.3 percent annualised...Our aircraft utilisation was among the highest...It is not a coincidence that good organisations far outstrip industry performance. There is a direct co-relation between happy employees and a great business. You need to respect each and every colleague around you. In the aviation business, everyone is equal and everyone just has a different role to play...Leaders have to walk in the shoes of employees," Ghosh added. "My mentor and CEO at Delta airlines said many times hope is not a strategy. For us, we have chosen the world's most fuel-efficient plane. We also have the youngest fleet Hoping for lower fuel but have planned for higher fuel as well. My first spreadsheet in August 2020 had fuel ...

It will start commercial operations later this month. The grant of the AOC marks the satisfactory completion of all regulatory and compliance requirements for the airline's operational readiness, Akasa Air said in a statement. The process concluded with the airline having successfully conducted a number of proving flights under the supervision of the DGCA (Directorate General of Civil Aviation), it added. "We are thankful to the Civil Aviation Ministry and the DGCA for their constructive guidance, active support and the highest levels of efficiency throughout the AOC process. We now look forward to opening our flights for sale, leading to the start of commercial operations by late July," Vinay Dube, Founder-Chief Executive Officer of Akasa Air, said. Following the government's initiative to usher in a new era of digitisation, Akasa Air is the first airline whose end-to-end AOC process was conducted using the government's progressive eGCA digital platform, the airline said. According to the airline, it will commence commercial operations later this month with two aircraft and subsequently add planes to its fleet every month. By the end of the fiscal year 2022-23, the airline will have 18 aircraft and thereafter, will add 12-14 aircraft every 12 months. This will make up its order of 72 aircraft to be delivered over a period of five years, it said. Last November, Akasa Air announced ordering 72 '737 Max' aircraft from Boeing. The order includes two variants from the 737 MAX ...

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Akasa Air, India’s India's newest airline, co-founded by late billionaire investor Rakesh Jhunjhunwala, is looking to raise $75-100 million by offering fresh shares to expand its business, according to a news report. Founded in December 2021, Akasa Air wants the money to make pre-delivery payments for aircraft, according to a report by the Economic Times quoting sources. The Mumbai-based airline ordered 72 Boeing 737 Max, of which 19 have been delivered. Akasa Air’s first commercial flight started on August 7, 2022 between Ahmedabad and Mumbai. Jhunjhunwala passed away a week later. The move to raise funds will see the Jhunjhunwala family's 46 per cent stake in the airline diluted. The family holds this stake through a trust and despite the potential dilution, it will remain the largest shareholder. Citing sources the report said, "The trust is unlikely to participate in this round of funding but even after the dilution will retain a substantial stake. The aviation sector is on a boom and the value of Akasa with strong financials and led by professionals will only rise." The airline, which commenced operations less than a year ago, has reached out to potential investors, including PE firms and high-net-worth individuals, for raising capital. Any infusion of capital will be based on a $650-million valuation. US-based hedge fund PAR Capital Management is one of the names doing the rounds and may subscribe to the shares to add to its existing 6 percent stake in the low-cost a...

Roller-coaster Ride for Akasa Air Akasa Air Team during receiving the Delivery of First Boeing 737 MAX at Seattle | Credits to Akasa Air CEO Vinay Dube said that the 4-5 months has been a Rollercoaster Ride for airline, but demise of Jhunjhunwala sir has been a personal loss. But his contribution is huge and because of him the airline is well setup. Akasa Air is 2.8 lakh passengers and 80% Load Factor. With On-Time-Performance (OTP) is there primary factor and journey have been challenging for 4 months. Belson Coutinho, Co-Founder and Chief Marketing & Experience Officer stated that the goal of airline is to be most dependable and affordable for our customers. He said that they are targeting more on Tier 2& 3 cities. USP of Airline is the comfort, Brand New aircraft, state of art facilities and services. This will make them stand out in Indian Competitive market. Akasa Air will have Multiple Hub cities, Bengaluru being first and they will add more in upcoming time. The airline will work on its strategies and not jumping to compete with other established carriers. Challenges for Airline Akasa Air Plane | Aviation A2z CEO while asked about ATF prices, he said we have been using the World’s Most Fuel-efficient Boeing 737, which gives them a competitive edge over others and can sustain the higher prices compared to other carriers using bit of older and less efficient aircrafts. So, ATF Fuel High prices challenge provide competitive edge to Akasa. CMO while answering about the ...