 "Markets may correct in the short term. But in a bull market the correction is always sharp, swift and short-lived: Rakesh Jhunjunwala")
Billionaire investor Rakesh Jhunjhunwala is investing over Rs 260 crore for a 40 per cent stake in a low-cost airline promoted by Vinay Dube, Jet Airways’ former chief executive officer.
Dube has put in place a team of senior executives in commercial, engineering and finance roles, and negotiations are underway with both Airbus and Boeing for an aircraft order. The proposed airline christened ‘Akasa Air’ is scheduled to start next summer and have 70 aircraft in four years.
Jhunjhunwala has already put in Rs 15 crore in the venture. The infusion was made earlier in the month and
Dube has put in place a team of senior executives in commercial, engineering and finance roles, and negotiations are underway with both Airbus and Boeing for an aircraft order. The proposed airline christened ‘Akasa Air’ is scheduled to start next summer and have 70 aircraft in four years.
Jhunjhunwala has already put in Rs 15 crore in the venture. The infusion was made earlier in the month and
