Owner of akasa air

Rakesh Jhunjhunwala, popularly know as the Big Bull, had an estimated net worth of Rs 34,250 crore, according to Forbes report. Mumbai: Indian billionaire business magnate, stock trader and investor Rakesh Jhunjhunwala passed away at the age of 62 on Sunday morning, said media reports. The veteran investor with a Midas touch had been dubbed “India’s Warren Buffet.” Also Read: • As per Forbes’ Real-time Billionaires Index, Jhunjhunwala is ranked among the top 500 richest billionaires, having a net worth of $5.5 billion. This made him the 36th richest man in India. The portfolio of billionaire investor Rakesh Jhunjhunwala surged over 56 per cent or Rs 11000 crore year-on-year (YoY) to Rs 30,680.8 crore in June quarter as of July 29, 2022. Apart from being an active investor, Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sits on the board of directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited. Born to an income tax officer, Jhunjhunwala started stock trading while he was still in college. The Big Bulll’s investment journey began with a mere $100 in 1985 when the Bombay Stock Exchange Index was at just 150. He got an interest in the stock market after listening to his father...

Akasa Air, India’s newest carrier, will begin commercial operations in July, Vinay Dube, the airline’s CEO, has said. “As we get closer to the airline launch date, we can now confirm refined estimates on our timelines. We expect our first aircraft delivery by June, with the intention to start commercial operations in July,” Dube, who is also the founder and managing director of Akasa, said on Monday. Akasa Air will now launch its operations in July, instead of June, said its CEO Vinay Dube (Twitter/AkasaAir) Dube, who gave the earlier June estimate while speaking at an aviation event on March 26, also said that the carrier remains on course to operate as many as 18 aircraft by the end of March next year. “We are extremely thankful to the Ministry of civil aviation and the Directorate General of Civil Aviation for their guidance and support on all required regulatory clearances. We have received our No Objection Certificate (NOC) and our next key milestone is the Air Operators Permit (AOP). We hope to satisfy all regulatory requirements for the AOP certification at the earliest,” the former Jet Airways and GoAir (now GoFirst) CEO also said. Here's all you need to know about Akasa Air: (1.) Besides Dube, Akasa also has the backing of ace investor Rakesh Jhunjhunwala, and Aditya Gosh, the former chief of IndiGo. (2.) In the first half of August 2021, the civil aviation ministry gave NOC to the airline to begin commercial operations. Also Read | Rakesh Jhunjhunwala-backed Akas...

During the Dubai Air show this year, Rakesh Jhunjhunwala’s upcoming airline venture “We believe that the new 737 MAX airplane will support our aim of running not just a cost-efficient, reliable and affordable airline, but also an environmental friendly company with the youngest and greenest fleet in the Indian skies," said Akasa Air CEO (chief executive officer) Vinay Dube, after the announcement was made on Tuesday. “India is one of the fastest-growing aviation markets in the world with an unparalleled potential. We are already witnessing a strong recovery in air travel, and we see decades of growth ahead of us," he added. India’s growing economy and expanding middle class will fuel strong demand for commercial flights, driving the need for more than 2,200 new airplanes in South Asia valued at nearly $320 billion over the next 20 years, according to Boeing’s 2021 Commercial Market Outlook forecast. Here are the key things to know about Akasa Air and its recent order for 72 Boeing 737 Max aircraft - Akasa Air, owned by SNV Aviation, is backed by ace stock investor Rakesh Jhunjhunwala. He owns 40 per cent stake of the company and is the co-founder of the airlines, along with Aditya Ghosh, former president of Indigo Airlines. Ghosh owns 10 per cent stake of Akasa Air. - Akasa Air plans to launch aviation services in the commercial sector of India by the summer of 2022 and has got a green signal from the ministry of civil aviation and the DGCA for the same. - The carrier plan...

Ace investor Rakesh Jhunjhunwala-owned Akasa Air, India's newest airline will begin its flight commercial operations from tomorrow, on August 7, 2022. Akasa Air is a low cost airline and will start the flight ops on Mumbai-Ahmedabad route starting tomorrow, followed by operations in other cities including Kochi, Bengaluru and Chennai in a staggered manner. Akasa Air will deploy Boeing 737 MAX aircraft of the routes, the first unit of which it received in June this year. The airline placed an order for 73 MAX aircraft earlier at the Dubai Airshow and will receive planes over the time. The company received its final certificate called theAir Operator Certificate (AOC) from the Director General of Civil Aviation (DGCA). We decode what exactly is Akasa Air and what new does it bring to the table? Akasa Air will operate its maiden flight on Mumbai-Ahmedabad route and has started to accept bookings for the tickets. Apart from these two cities, Akasa Air will also start operations to Bengaluru and Kochi from August 13 and will operate 24 weekly flights connecting these locations. Apart from these 4 locations, Akasa Air recently announced Chennai as the fifth destination in its network and will commence daily flights between Chennai and Mumbai from September 15, 2022. In addition to this, the airline has also added a new route between Ahmedabad and Bengaluru, which will commence from August 23, 2022. Akasa Air had also announced its daily direct flights between Bengaluru and Mumba...

Prime Minister Narendra Modi expressed grief over Jhunjhunwala's passing. He tweeted, "Rakesh Jhunjhunwala was indomitable." Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti. Starting off his journey in stock markets while still in college with a capital of just Rs 5,000, he recently teamed up with ex-Jet Airways CEO Vinay Dube and former IndiGo head Aditya Ghosh to launch Akasa Air --- India's newest budget carrier. The airline began commercial operations this month with a maiden flight from Mumbai to Ahmedabad. READ HERE | An investor with a Midas touch, he was the 48th richest man in the country. A chartered accountant by education, he chose Dalal Street instead of auditing accounts. In 1985, Jhunjhunwala invested Rs 5,000 as capital. By September 2018, that capital had inflated to Rs 11,000 crore. His portfolio includes companies like Star Health, Titan, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies and Tata Motors. Overall, he had a stake in 47 companies at the end of the June quarter. Titan, Star Health, Tata Motors and Metro Brands were some of his largest holdings. He was the chairman of Hungama Media and Aptech and sat on the board of directors of firms such as Viceroy Hotels, Concord Biotech...

These are two realities of the civil aviation sector. While the number of air travellers, aircraft and airports is on the rise — a much-needed silver lining for an industry that was severely hit by the pandemic —the rising fares and other bottlenecks are of concern to flyers. Former civil aviation minister Suresh Prabhu says airlines should be responsible enough to not charge passengers exorbitantly. 26 Feb, 2023, 12:14 AM IST India's domestic travel demand spurted in the April-June quarter shaking off woes of the pandemic. A fresh spike in infections has, however, crimped demand to an extent. In a post-earnings conference call with analysts, he said the lean travel demand in September would "drag down" the July-September quarter, but he expected a "perfect storm" of profitability in the third quarter. 04 Aug, 2022, 07:18 AM IST The Jalan-Kalrock consortium has sought time until next week for a decision, the same person said. The resolution plan approved by the National Company Law Tribunal (NCLT) is silent on the distribution of the lease rentals, leading to a dispute between the lenders to the distressed airline and the winning bidder. 22 Jul, 2022, 11:11 AM IST Airlines are struggling with angry employees who want their salaries restored to pre-Covid levels. Pilots, crew and technicians at IndiGo and Go First have stayed away from work for several days in the last few weeks. Employee complaints range from sustained salary cuts, lack of incentives that were earlier given...