Startup airline may use stock options to get staff

Tough sector: An Air India aircraft prepares to land at an airport in Mumbai. India is one of the world’s most competitive air-travel markets, with many who had wanted to crack the market having failed in the past. — AFP

AKASA, a new Indian airline backed by billionaire Rakesh Jhunjhunwala, plans to offer stock options to attract staff, using a lure more often deployed by technology startups in its bid to gain a foothold in one of the world’s most competitive air-travel markets.

The carrier, which is preparing to start flying in late May, is taking the unusual approach of granting company shares to a bigger pool of top employees, rather than a select group of senior executives, as the aviation industry globally suffers from a talent shortfall.