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This article is more than 1 month old.

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

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Former Jet Airways CEO will also be a part of the new airline venture by Rakesh Jhunjhunwala, sources said.

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