Wednesday, August 11, 2021

A Stormy Flight Path for Rakesh Jhunjhunwala’s Akasa in the Turbulent Aviation Industry

The Indian aviation community is abuzz with the news of a new airline being added to the fleet. Akasa airline has raised significant amount of funds, including a multi-crore investment by billionaire stock market investor Rakesh Jhunjhunwala. In a short span, the airline has appeared on everybody’s radar. Preliminary reports suggest a focus on the Ultra-Low Cost Carrier (ULCC) model and majority of aircraft to be based in Bengaluru with headquarters in Mumbai. Even so, given the state of the industry, people are asking: “Why start an airline? And why now in the midst of a pandemic?”

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