As Akasa takes to the skies, promoter Rakesh Jhunjhunwala says its frugality will keep it competitive

As Akasa Air takes to the skies, promoter Rakesh Jhunjhunwala has told CNBC-TV18 that the airline would be competitive, and would adhere to the principle of staying frugal in its operations.

"Our competitors are ordering new chairs in response to Akasa's chair," the market veteran quipped in an interview with Shereen Bhan on CNBC-TV18. Jhunjhunwala said he was very confident in the aviation sector, adding there would be a lot more flights and India would see 14 crore passengers flying to swell to 40 crores in the coming future.

Akasa Air, which is backed by the ace investor and aviation veterans Aditya Ghosh and Vinay Dube, got its air operator certificate from the Directorate General of Civil Aviation (DGCA) on July 7 and Aviation Minister Jyotiraditya Scindia on Sunday virtually flagged off Akasa Air's first commercial flight,

Jhunjhunwala, during the ceremony on Sunday, complemented the government on fast-tracking the pre-operation process.

"Nowhere in the world has an airline been conceived and born in 12 months," he said. "Normally, a child is born in nine months, we took 12 months. It would not have been possible without the cooperation of the Ministry of Civil Aviation."

Akasa Air has announced routes along five cities, including Mumbai, Ahmedabad, Kochi, Bengaluru and Chennai and said that it plans to induct two 737 MAX aircraft every month.