India’s newest airline Akasa Air - All you need to know

India’s billionaire investor Rakesh Jhunjhunwala has announced to launch his own ultra-low-cost airline called Akasa Air. Read all you need to know.

Created On: Jul 29, 2021 14:49 IST
Rakesh Jhunjhunwala, Source: PTI
Rakesh Jhunjhunwala, Source: PTI

India’s billionaire investor Rakesh Jhunjhunwala has announced to launch his own ultra-low-cost airline called Akasa Air.

With 40 per cent ownership and an investment of USD 35 million, Jhunjhunwala said the airline is expected to have 70 aircraft within 4 years.

Jhujhunwala is expecting a no-objection certificate from the Ministry of Aviation, Government of India in the next 15 days.

Airbnb and Par Capital Management are among the investors in Akasa Air.

Who are the key people in Akasa Air?

•Aditya Ghosh, former President of Indigo will be the co-founder of Akasa Air with a 10 per cent stake. He will not be on the management but will be Jhunjhunwala’s nominee.

•Former Jet Airways CEO Vinay Dube will be the CEO of Akasa Air with a 15 per cent stake. As per media reports, a former senior executive of Delta Air Lines Inc. will be part of the founding team.

•Media reports also state that other key people at Akasa Air will see former GoAir revenue management VP Anand Srinivasan as CTO, former Jet Airways senior VP Praveen Iyer as COO, former Jet flight operations VP Floyd Gracious as CTO or a similar role, and industry veteran Neelu Khatri as Head, Corporate Affairs.

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS

Related Stories

Monthly Current Affairs PDF

  • Current Affairs PDF September 2021
  • Current Affairs PDF August 2021
  • Current Affairs PDF July 2021
  • Current Affairs PDF June 2021
  • Current Affairs PDF May 2021
  • Current Affairs PDF April 2021
  • Current Affairs PDF March 2021
View all

Monthly Current Affairs Quiz PDF

  • Current Affairs Quiz PDF September 2021
  • Current Affairs Quiz PDF August 2021
  • Current Affairs Quiz PDF July 2021
  • Current Affairs Quiz PDF June 2021
  • Current Affairs Quiz PDF May 2021
  • Current Affairs Quiz PDF April 2021
  • Current Affairs Quiz PDF March 2021
View all
Comment (0)

Post Comment

1 + 5 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.
    Whatsapp IconGet Updates

    Just Now