Get ready to fly with Akasa air! The government has approved Rakesh Jhunjhunwala backed Akash Air to operate in India. It expects to begin flights next year after receiving preliminary approval from the Civil Aviation Ministry. Akasa Air is considered to be the country’s newest ultra-low cost carrier. Former IndiGo chairman, Aditya Ghosh is also on the Akash Air board. In the next four years, the airline intends to operate approximately 70 aircraft.
This information was given in a company statement. The holding firm, SNV Aviation Pvt Ltd, stated that the new airline aims to start operations by the summer of 2022. The new airline, Akash Air is backed by veteran investor Rakesh Jhunjhunwala and the former Jet Airways CEO Vinay Dubey.
India’s ‘Warren Buffet’
Rakesh Jhunjhunwala, a Midas-touch investor, is reffered to be India’s ‘Warren Buffet’. He is a chartered accountant as well as a trader. During the college days itself, the ace investor started trading in the stock market in 1985. Rakesh Jhunjhunwala is the 48th richest man in the country, according to Forbes’ Rich List.
AKASA receives NOC
Former IndiGo chairman Aditya Ghosh, congratulated the team and said “Many congratulations to Vinay Dubey and Team AKASA on receiving the NOC from MOCA as it embarks on its journey to offer Indian flyers a warm, efficient, reliable and affordable travel experience with an endeavour to be the nation’s most dependable, affordable and greenest airline,”
