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
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Denne historien er fra June - July 2023-utgaven av Entrepreneur magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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