Former Indigo President Aditya Ghosh to team up with Rakesh Jhunjhunwala for new airline venture - CNBCTV18

Former Indigo President Aditya Ghosh will team up with Rakesh Jhunjhunwala for a new airline venture, sources informed CNBC-TV18.Former Jet Airways CEO will also be a part of the new airline venture by Rakesh Jhunjhunwala, sources said.

Rakesh Jhunjhunwala, India’s billionaire investor, is working on launching a budget airline with a fleet of 70 aircraft. The proposed airline, named 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 will invest $35 million in the new project and he will hold a 40 percent stake in the airline. The Big Bull has approached the Aviation Ministry to obtain a no-objection certificate (NoC).CNBC-TV18 has confirmed the story independently.

(Edited by : Anshul)

First Published: Jul 29, 2021, 10:15 AM IST

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Former Indigo President Aditya Ghosh to team up with Rakesh Jhunjhunwala for new airline venture - CNBCTV18
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