Three trusts named after his twin sons and daughter now hold 27% stake in firm; combined family holding at 46%
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Akasa Air, which commenced services on the Bengaluru-Mumbai route on Friday, expects to operate more than 150 weekly flights by the end of September
The Jhunjhunwala family holds stakes in the airline through three discretionary trusts
New entrant Akasa Air is financially strong enough to place an aircraft order in the 18 next months that will be significantly larger than its first, its founder and CEO Vinay Dube said on Wednesday
Vinay Dube said the airline was well-capitalised to induct 72 aircraft over next 5 years, while mourning the death of Akasa's top backer and ace investor Rakesh Jhunjhunwala who passed away on Sunday
In his last public appearance, the ace investor gave India's aviation the lift-off it needed
Akasa Air's chief mentioned about the billionaire investor being an early believer in the team and putting his trust and faith in them to build a world-class airline
As of August, 2022, his net worth was $5.8 billion. He invested via his firm Rare Enterprises
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Founder-CEO Vinay Dube thanked all passengers and took their feedback as they deplaned on arrival in Mumbai
Civil Aviation Minister Jyotiraditya Scindia will on Sunday inaugurate Akasa Air's first commercial flight that will operate on the Mumbai-Ahmedabad route
The airliner as part of pan-India network connectivity, would also add new routes between Ahmedabad and Bengaluru routes from August 23.
A week ahead of its maiden flight, airline is offering 10% lower fares on Mumbai-Ahmedabad route
The new carrier will launch commercial flight operations on Aug 7 by running its first service on the Mumbai-Ahmedabad route. On Aug 13, the airline will start operations on the Bengaluru-Kochi route
The airline has secured two parking bays at Delhi airport and flights from Delhi are imminent, a source said
New airline Akasa Air on Friday said it will launch commercial flight operations on August 7 by operating its first service on Mumbai-Ahmedabad route using Boeing 737 Max aircraft
Across the sector, technician salaries are low and Covid-19 pandemic worsened the problem as some airlines resorted to pay cuts
The airline hopes to have 18 aircrafts by the end of financial year (FY) 2023