Tuesday, May 24, 2022

Rakesh Jhunjhunwala-backed Akasa Air: All you need to know about India's newest low-cost airline

Ace investor Rakesh Jhunjhunwala backed Akasa Air, India's newest airline, has revealed the first image of its Boeing 737 Max airplane parked at the Boeing production facility in the USA's Portland as it gets ready for delivery. As seen in the image, the Boeing plane is wearing the brand's Orange and Purple coloured livery, a new for the Indian market. Akasa Air, the low cost airline is expected to start its operations in July 2022 after a slight delay and placed a massive order of 72 Boeing 737 Max family of aircrafts, one of the largest orders for the Max plane globally. We decode what exactly is Akasa Air and what new does it bring to the table?

Akasa Air is backed by ace investor Rakesh Jhunjhunwala, who is the co-founder of the newest airline and owns 40% of the company. Ex-Jet Airways CEO Vinay Dube will be the CEO of Akasa Air with a 15 per cent stake. The brand is also looking to hire other industry leaders at the top spot before beginning of the operations.

Akasa Air recently received its code from DGCA (Director General of Civil Aviation) and will be called 'QP'. Akasa Air is the newest airline in India, unlike Jet Airways that will start India operations again with 9W code.

The airline plans to operate approximately 70 planes in the next four years and has placed an order of 72 Boeing 737 Max aircrafts. The deal was signed at the 2022 Dubai Air Show. The Max 8 aircraft is the same single aisle aircraft that was grounded after a couple of deadly crashes in late 2019. Following modifications and clearance from the FAA, DGCA has also approved operations to resume in India. Earlier Airbus' Chief Commercial Officer Christian Scherer mentioned that Airbus is in conversation with Akasa for an aircraft procurement deal.

24/05/22 Arjit Garg/Zee News

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