Rakesh Jhunjhunwala, the big bull of the stock market, is going to enter the airline industry with full vigor. The recently launched Akasa airline has made all the preparations to take off. Along with this, the airline has also prepared a blueprint for its full 5-year development. According to the news of news agency PTI, Vinay Dubey, CEO of Akasa airline, while talking about the new airline during the Wings India 2022 air show held in Hyderabad, said that Akasa airline will have a large fleet of 72 airplanes in the next 5 years. .
5 years plan explained: Vinay Dubey said that the airline’s commercial flights will start in June this year. Initially, we will operate the airline with a fleet of 12 aircraft. In the next 5 years, it is planned to add 72 aircraft to the fleet at the rate of 12 to 14 per annum. It is worth noting that in November last year, Akasa Air had placed an order for Boeing 737 MAX jets.
Approval from Ministry of Civil Aviation: Akasa airline has got all the necessary licenses related to flying in October 2021 from the Ministry of Civil Aviation. The company has also got a No Objection Certificate (NOC) to fly. After getting NOC for any airline in India, it takes about 6 months to get an Air Operator’s Permit.
Focus on small towns: The main focus of Rakesh Jhunjhunwala’s airline will be on Tier 2 and Tier 3 cities of India. However, it has not been told by the airline that between which two cities the first flight will start. It is going to be a low cost airline. Its main competition will be with other Indian airlines such as Indigo, SpiceJet, Vistara, Air India and Air Asia.
These investors have entered the business: Before Rakesh Jhunjhunwala, another big Indian investor Radhakrishna Damani has also entered the business. He started his business in 2002 by opening his first retail store in Powai, Mumbai. As per the DMart website, the company has 263 retail stores across the country.