Rakesh Jhunjhunwala To Launch Ultra Low-Cost Airlines Soon
Ace investor and one of the leading experts on the Indian stock market Rakesh Jhunjhunwala is all set to launch an ultra-low-cost airline with a fleet of 70 aircraft. The name of this airline would be Akasa Air and it is rumoured to rope in big names from Indian and global Civil aviation including former IndiGo CEO Aditya Ghosh, top names from erstwhile Jet Airways, and a few international carriers.
In an interaction with Bloomberg TV, he confirmed this news on July 28.
Akasa Air, will be acquiring its fleet of aircraft over the next four years, reported Bloomberg.
Jhunjhunwala’s move into aviation comes at a time when international and domestic carriers have been beset with financial uncertainty because of the COVID-19 pandemic.
Jhunjhunwala said he will invest $35 million in the new project and, he will hold a 40 per cent stake in the airline.
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