Why Rakesh Jhunjhunwala's Akasa Air could prove the sceptics wrong

Competitive aircraft costs would be one major advantage for Akasa


Illustration: Ajay Mohanty

Sai Manish New Delhi
At the recently concluded Dubai airshow, Akasa, Rakesh Radheyshyam Jhunjhunwala’s new airline, signed a $9 billion deal with American aircraft maker Boeing to buy its 737 MAX planes and a $4 billion one for engines with CFM, a joint venture between GE of the US and Safran of France.

Unlike his financial doppelganger Warren Buffett, who divested billions from his airline stock portfolio at the start of the pandemic, Jhunjhunwala is wagering his billions in a brand new airline.

The legendary investor bought a roughly 40 per cent stake in SNV Aviation in September, Akasa’s holding company, started in March by three former Jet Airways colleagues. With aviation still to recover from its pandemic slump, the big question around his foray into

First Published: Nov 29 2021 | 06:03 AM IST

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