The competition is brewing hard as the aviation market gets ready to welcome two more players—low-cost carrier (LCC) Akasa Air, which is set to commence operations in July; and the re-launch of Jet Airways later this year.
But let’s talk about the new kid first. Billionaire stock trader Rakesh Jhunjhunwala and former Jet Airways CEO, Vinay Dube co-founded Akasa Air, which is an ultra-low-cost Indian airline.
After signing a contract with the Irish leasing company, Griffin Global Asset Management for the Sale and Leaseback (SLB) of 5 Boeing 737 Max aircraft, the co-founders take pride in launching the world’s most environmentally friendly airline with the youngest and greenest fleet in global aviation.
Akasa has plans to operate 18 aircraft across internal routes in India by March 2023 with a focus on metros, tier 2 and 3 towns. A $9-billion deal with Boeing in November 2021 was signed for 72 Boeing 737 Max jets in two variants—the 737-8 and the high-capacity 737-8-200.
CFM LEAP B, a fuel-efficient engine will power these planes. The 737 MAX is one of the strategic factors that will give Akasa Air a competitive edge in its dynamic home market.
The Jet Homecoming
The old warhorse, Jet Airways is also set to join the fray. The full-service carrier has been granted the Air Operator Certificate (AOC), ending months of speculation over its fate.
All set to resume commercial operations under its new owners (the Kalrock-Jalan consortium and UAE-based businessman Murari Lal Jalan), Jet is getting a fresh lease of life – much rare in commercial aviation.
Too long? Here’s a one-liner: Rakesh Jhunjhunwala-backed Akasa Airline is all set to hold the title for the world’s greenest airline and commence its operations in July; signs leaseback with Griffin Global Asset Management for 5 Boeing 737 Max aircraft.