Billionaire’s startup Indian airline will use stock options to lure staff

Bloomberg

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. Airlines have retrenched thousands of workers because of the pandemic and many pilots have quit, either taking early retirement or switching careers.
“We want to have an organization that’s very tight knit in values, but diverse in experiences, genders, locations within India,” CEO Vinay Dube said.