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| Name | Big Bull Rakesh Jhunjhunwala's Akasa Air | Akasa Airlines Business Strategy | Akasa Air | Josh Money |
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| Upload Date | This Video Uploaded At 27-08-2022 13:00:11 |
| Video Discription | Big Bull Rakesh Jhunjhunwala's Akasa Air | Akasa Airlines Business Strategy | Akasa Air | Josh Money Welcome to Josh Money! In this video of Josh Money, Aastha Sethi is talking about the Business Strategy of Rakesh Jhunjhunwala's Akasa Airlines. The aviation industry in India has been steadily growing, which has spurred increased speed among the country's airlines due to more competition. The first commercial flight for Akasa Air took the Mumbai–Ahmedabad route, marking the company's debut in a highly competitive airline market. Akasa, founded by the late Rakesh Jhunjhunwala, is a low-cost airline that plans to compete for head-on with established players like Indigo, SpiceJet NSE 0.11 %, and GoFirst using a fleet of 72 Boeing aircraft. Akasa began operations with the purpose of linking major cities in India with their outlying communities. Their plan is in accordance with the government's UDAN scheme for regional connectivity, which aims to make air travel more accessible to the general public by lowering ticket rates. Union Civil Aviation Minister Jyotiraditya Scindia recently said, "In the last five years, we have grown from 2013-14 almost 6 crore passengers to almost 14.5 crore passengers. We forecast by 2027 India will have 40 crore passengers per year. That's the kind of phenomenal growth and if it has to be made possible it can only be made possible by a number of players coming into the sector". India’s newest airline Akasa Air, backed by billionaire investor Rakesh Jhunjhunwala, began commercial operations on Sunday with the first flight on the Mumbai-Ahmedabad route. The low-cost carrier started operating 28 weekly flights between Mumbai and Ahmedabad. While Akasa has a total of 72 Boeing planes on order, it initially started operations with two fuel-efficient 737 MAX aircraft. Akasa competes directly with other budget carriers like IndiGo, SpiceJet and GoFirst. But its network strategy will be to connect metro cities with smaller towns across India. More locations will be added in a phased manner as the airline plans to deploy two planes each month in the first year. In an interview with Nikkei Asia in June, Akasa’s Co-Founder and CEO Vinay Dube said it does not make sense for the airline to become another player in the busier routes which already see cut-throat competition. Akasa will still have limited metro-to-metro flying. Experts also say that Akasa's strategy to focus on smaller tier 2 and tier 3 cities has more to do with the non-availability of slots at peak timings to bigger cities. Hence it is convenient for a new entrant to focus on departures from a metro to a relatively smaller city, where there is no paucity of slots. On the Mumbai-Ahmedabad route, Akasa is pricing its tickets on par with other low-cost airlines like IndiGo and GoFirst. As experts say, it would be prudent for Akasa to focus on reliable, safe air transport and gain the trust of consumers instead of getting into pricing wars with competitors. Also, the impact of Akasa’s entry on airfares is likely to be minimal and negligible, at least in the near term. #AkasaAir #RakeshJhunjhunwala #BigBull #JoshMoney Video Editor: Rahul Gupta Thumbnail: Purvang Mehta |
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