Early Life and Education
Rakesh Gangwal was born in Kolkata, India, in July 1953. He attended Don Bosco School and later earned a Bachelor's degree in Mechanical Engineering from the Indian Institute of Technology (IIT) Kanpur in 1975. Gangwal furthered his education with an MBA from the Wharton School of the University of Pennsylvania.
Rise to Success
Gangwal's career in aviation began in 1984 at United Airlines, where he held various management positions. His expertise led him to become Executive Vice President for Air France in 1994. He then served as President and CEO of US Airways Group from 1998 to 2001. A pivotal moment in his career came in 2006 when he co-founded IndiGo, which quickly became India's leading airline. He also served as chairman of Worldspan Technologies from 2003-2007. Gangwal sold a major part of his holdings in InterGlobe Aviation, earning an estimated $4–$6 billion.
Key Business Strategies
Gangwal's success is attributed to his strategic vision, particularly in the low-cost carrier model of IndiGo. His focus on operational efficiency, punctual flights, and a hassle-free travel experience was key. IndiGo’s rapid growth and dominance in the Indian market are a direct result of his strategic decisions. IndiGo's adoption of the sale-and-leaseback model also played a crucial role in the airline's financial growth and market leadership, allowing IndiGo to scale faster and keep costs low.
Philanthropy
Gangwal is involved in philanthropic activities, most notably donating ₹100 crore (approximately $13.16 million) to IIT Kanpur to establish a School of Medical Sciences and Technology in April 2022.