Read the inspiring journey of Rakesh Gangwal, an IIT Kanpur graduate who co-founded IndiGo, India's largest airline. His net worth now exceeds Rs 50,000 crore.
Success in India’s aviation sector is often regarded as a formidable challenge. However, Rakesh Gangwal, with his remarkable accomplishments, has showed that it is indeed achievable. As the co-founder of IndiGo Airlines, he revolutionised the Indian aviation industry. Under his leadership, IndiGo emerged as the largest airline in India and has become a source of inspiration for the nation’s youth.
Graduated from IIT Kanpur in 1975
Born on July 25, 1952 in Kolkata, West Bengal, Rakesh Gangwal completed his early education at Don Bosco School. He graduated with a degree in Mechanical Engineering from the Indian Institute of Technology (IIT) Kanpur in 1975. His educational journey continued as he earned an MBA from the prestigious Wharton School at the University of Pennsylvania, which significantly improved his management skills.
Career in aviation sector
Rakesh Gangwal began his career in the aviation sector in 1980 when he took on the role of associate at Booz Allen Hamilton Inc. This opportunity marked the start of his ascent in the industry. He subsequently joined United Airlines, where he held various positions, including manager and strategic planner, further honing his expertise and experience in aviation.
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Chairman of US Airways Group from 1998 to 2001
Rakesh Gangwal also served as the Chairman and CEO of US Airways Group from 1998 to 2001. Under his leadership, the company reached new heights, demonstrating that he was not only an astute businessman but also a skilled leader. His strategic decisions established a new benchmark for stability and growth within the airline industry.
Founded IndiGo Airlines in 2006
Another significant turning point in Gangwal's life occurred in 2006 when he co-founded IndiGo Airlines alongside his friend Rahul Bhatia. Initially, IndiGo concentrated on providing affordable travel, a strategy that quickly proved to be immensely successful. Today, IndiGo stands as India’s largest airline, serving millions of passengers each year. However, he stepped down from the company's board in 2022.
Net worth exceeds Rs 50,000 Crore
In 2024, Gangwal joined the board of Southwest Airlines, one of the world’s largest low-cost carriers. In 2022, he made a significant contribution of Rs 100 crore to IIT Kanpur. His current net worth is approximately Rs 50,300 crore.
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