Stock market investor Rakesh Jhunjhunwala-backed aviation venture SNV Aviation, which is planning an airline under the Akasa brand, has received a no-objection certificate from the Ministry of Civil Aviation.
About:
The airline, which is planning to operate as a low-cost carrier or an ultra low-cost carrier, expects to launch services by the summer of next year.
The airline is being launched by Jhunjhunwala, who will hold a 40 per cent stake in the company. Jhunjhunwala has onboarded aviation industry veterans such as former Jet Airways CEO Vinay Dube and ex-IndiGo president Aditya Ghosh to run the airline.
What is the ULCC model?
In the ULCC (ultra low cost carriers ) airline business model, the company focuses on keeping operating costs even lower than typical budget airlines like IndiGo and SpiceJet.
In the low-cost model, airlines unbundle certain amenities that are usually associated with the full-service airline experience — like seat selection, food and beverages, etc.
In the ultra low-cost model, there is an even further unbundling of services like checked-in baggage, cabin baggage, etc.
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