Aviation Ministry gives nod to Rakesh Jhunjhunwala-backed Akasa Air to operate in India
NEW DELHI: Billionaire investor Rakesh Jhunjhunwala-backed Akasa Air has received no-objection certification (NoC) from the civil aviation ministry and hopes to start operations by summer of 2022. Akasa Air and three other airline companies had applied for NoC from the ministry to start scheduled air passengers services and air cargo services in August.
Akasa’s approval coincidentally comes days after Jhunjhunwala had met Prime Minister Narendra Modi. The investor is expected to own nearly 40% stake in the airline and is considering investing $35 million in the venture.
