It was in October 2021, the world was recouping from an unprecedented crisis: The effects of the second wave of COVID-19. The economy was dwindling, however, the quandary did not deter Vinay Dube from realizing his dreams. SNV Aviation, which will fly under the brand name Akasa Air, finally got the no objection certificate (NOC) from the ministry of civil aviation in 2021. Soon, Dube, founder and CEO Akasa Air, started to prepare for the maiden flight on 07 August 2022. The lowcost carrier (LCC), aimed to be a category-defining airline…so, how successful has it been in achieving the targets? The delivery of 18 aircraft within the first eight months made it the fastest growing airline globally, today, its fleet size stands at 19. Within nine months of operation, its market share stands at five per cent. The airline topped the ontime performance(OTP) in the month of April and had been consistent since the beginning of its operations. The airline also clocked an increase in its passenger load factor in April, at 84.9 per cent.
The CEO attributes the success to its management team, “A professional management team is the secret behind our smooth operations, they’re the ones that lay the foundation,” says Dube. His nearly three-decade experience in the aviation sector across the US (with stints at Delta Air Lines, American Airlines) and India meant that he knew the air travel business backwards and forwards.
BUSINESS EXPANSION
This story is from the June - July 2023 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June - July 2023 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
THE SUBMERGED ADVENTURES
Spearheading GetVantage, one of the leading alternate financing companies in the country, Bhavik Vasa knows that sometimes entrepreneurial journey can get tough and stressful, but he has his own way of clearing his mind -- a few feet underwater.
Robust Charging Infra Key To India's EV30@30 Ambition
WHILE GOVERNMENT AIMS TO HAVE 30% OF 2030 CAR SALES AS EVS IN THE COUNTRY, THE VISION SEEMS UNATTAINABLE WITH JUST OVER 12,000 PUBLIC CHARGING STATIONS IN THE COUNTRY AT PRESENT.
OWNING A SLICE OF PROPERTY
Real estate is a critical component of one's portfolio as it provides income, capital appreciation, inflation protection, and diversification.
THE FUTURE OF FINTECH
It's all about setting the house in order
ETCHING SEMICON DREAMS
Historically concentrated in regions like the US, East Asia, and Europe, there's a rising interest in expanding semiconductor assembly and packaging capabilities to emerging markets like India.\"
6 Lessons I Learnt In My First Startup Venture
EVEN THOUGH YOU PICK A BIG MARKET, IT’S IMPORTANT TO PICK A SMALL SEGMENT OF IT TO FOCUS ON FIRST AND UTTERLY DOMINATE BEFORE YOU SLOWLY EXPAND.
How AI and ML are revolutionising healthcare industry
Al ALGORITHMS CAN NOW ANALYZE VAST AMOUNTS OF BIOLOGICAL DATA TO IDENTIFY POTENTIAL DRUG CANDIDATES, PREDICT THEIR EFFICACY, AND OPTIMIZE DRUG DISCOVERY PROCESSES.
5 Lessons I Learnt As An Entrepreneur Over The Last Decade
TODAY, WE ARE A PROFITABLE BUSINESS WITH 2.5 TIMES OF OVER PRECOVID BUSINESS VOLUMES.
Revolutionizing the two-wheeler industry with technology
TO CATER TO THE INCREASING DEMAND FOR TWOWHEELERS, THE INDUSTRY IS CONTINUOUSLY EMBRACING THE LATEST TECHNOLOGIES TO ENHANCE EFFICIENCY, PRODUCTIVITY, AND SUSTAINABILITY.
Who's Stealing Your Time?
Do you have less time for the things you love? You might be blaming the wrong people.
