InvestorQ : When does Rakesh Jhunjhunwala plan to start his airline venture, Akasa?
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When does Rakesh Jhunjhunwala plan to start his airline venture, Akasa?

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1 month ago
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Akasa Air, backed by Rakesh Jhunjhunwala has got the no objection certificate or NOC from the Ministry of Civil Aviation. It has been allowed to start operations by mid-2022. There are some more steps involved in the process. The next step would be to apply to the DGCA for an operating permit. They also need to finalize all the flying manuals and other documentations before they can get the final permission to fly.

Rakesh Jhunjhunwala has invested Rs.248 crore in the venture, while the promoter of New Horizon Fund has also invested. Aviation experts like Vinay Dube of Jet Airways and Aditya Ghosh of Interglobe are also part of the core team that will drive Akasa Airways. The business model of Akasa will be to position itself as India’s most reliable, green and affordable airline. The theme is going to be flying for all, irrespective of class.

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