Rakesh Jhunjhunwala Air lines take off soon
Indian Warren Buffet Rakesh new venture airline company Akasa Air will touch the sky soon. The company is budget airline company. He invest $35 (around Rs 260 crore)million to the airline company. In the Bloomberg interview Mr Rakesh said 70 aircraft will be 4 years and the aircraft carry 180 passengers. Mr Rakesh own 40 percent of the company and they expect with in 15 days to get NOC from the Aviation Ministry.
Former senior executive of Delta Air Lines Inc will also be associated with Akasa Air.Now Indigo holds more than 50% of indian domestic airline service.
Rakesh and Ghosh venture ultra-low-cost carrier (ULCC) will mark “return to the aviation industry” after his exit as President and whole time director of Indigo in 2018. He is currently a board member at Fab India and Oyo Rooms. Ghosh worked for Indigo 10 years and built it up from a new entrant into India’s biggest carrier with a fleet of 160 planes and market share of Rs 55,000 crore, the report noted.
This makes new airplane business to era like JIO to Indian Mobile network.