Assignment Problem:
Mumbai: Akasa Air, promoted by billionaire stock investor Rakesh Jhunjhunwala, operated its first flight Sunday, potentially opening up more choices for travellers in an industry that is seeking to return to its pre-Covid load factor. India's newest airline operated the flight from Mumbai to Ahmedabad, with Jhunjhunwala and his wife on board. The maiden flight took off from Mumbai at 10:05 am, with its scheduled arrival at Ahmedabad's Sardar Vallabhbhai Patel International Airport at 11:25 am. "They say India has a very, very bad bureaucracy. But the cooperation that the ministry of civil aviation has given us is unimaginable. Nowhere in the world is an airline conceived and born in 12 months," Jhunjhunwala said. "Normally, a child is born in 9 months. We took 12," said the ace investor, who has been lately battling health-related challenges. Civil Aviation Minister Jyotiraditya Scindia likened the launch of the airline to a new dawn - after the darkest hour. "This is indeed a new dawn, a new awakening for the civil aviation sector in India, in many more ways than one," the minister said. "The sector across the world has been through very trying times over the last decade or two. Many black swan events have turned the fate of this industry globally. And so too in India, this sector saw a plethora of new entrants and has been witness to the closure of many a visionary airline." Starting Sunday, Akasa Air will offer weekly flights between Mumbai and Ahmedabad, progressively adding cities and routes to its network. The airline has already announced a total of five routes along five cities, including Mumbai, Ahmedabad, Kochi, Bengaluru and Chennai. "With a fleet induction plan of two 737 MAX aircraft each month, the airline is looking to establish a strong pan-India presence, with a focus on metro to tier 2 & 3 route connectivity. The fleet size will be raised to 18 aircraft by the end of March 2023 and over the next four years, the airline will add 54 aircraft, taking its total fleet size to 72," said the airline in a statement. Source: Economic Times, August 08th 2022.
Answer the following questions:
Task 1: Perform Porter's 5 forces analysis on the Indian Airlines Industry for Akasa Air with proper justification.
Task 2: Which of the Porter's generic strategies should Akasa Air follow to achieve success in this tight competitive space and why?