{"id":429035,"date":"2021-08-04T12:42:46","date_gmt":"2021-08-04T07:12:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=429035"},"modified":"2021-08-04T12:42:46","modified_gmt":"2021-08-04T07:12:46","slug":"akasa-rakesh-jhunjhunwala-backed-airline-could-lead-churn-in-indias-aviation-sector","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/akasa-rakesh-jhunjhunwala-backed-airline-could-lead-churn-in-indias-aviation-sector\/","title":{"rendered":"Akasa: Rakesh Jhunjhunwala-backed airline could lead churn in India\u2019s aviation sector"},"content":{"rendered":"<p>Over a year since the outbreak of Covid-19 disrupted the sector, the Indian aviation industry is set to welcome two new players \u2014 the second incarnation of Jet Airways and Akasa, backed by Dalal Street ace Rakesh Jhunjhunwala. While both are still finalising detailed plans, their entry underscores the appetite for the Indian airlines segment at a time when existing players are struggling because of muted demand for travel.<\/p>\n<p>Akasa\u2019s entry<br \/>\nAn ultra-low-cost carrier (ULCC), Akasa is the brainchild of ace investor Rakesh Jhunjhunwala. With a 40% stake in the company, Jhunjhunwala reportedly plans to launch Akasa by next April. He has already brought on board several industry veterans, including former IndiGo president Aditya Ghosh and former CEO of Jet Airways, Vinay Dube. While Dube is likely to become CEO, Ghosh will be Jhunjhunwala\u2019s nominee on the board. The investor will pump in a reported $35 million, and has plans for a 70-strong fleet in four years. The airline expects the Ministry of Civil Aviation\u2019s no-objection certificate in the next few days.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over a year since the outbreak of Covid-19 disrupted the sector, the Indian aviation industry is set to welcome two new players \u2014 the second incarnation of Jet Airways and Akasa, backed by Dalal Street ace Rakesh Jhunjhunwala. While both are still finalising detailed plans, their entry underscores the appetite for the Indian airlines segment at a time when existing players are struggling because of muted demand for travel. Akasa\u2019s entry An ultra-low-cost carrier (ULCC), Akasa is the brainchild of ace investor Rakesh Jhunjhunwala. With a 40% stake in the company, Jhunjhunwala reportedly plans to launch Akasa by next April. [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[196,130,138],"tags":[],"class_list":["post-429035","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/429035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=429035"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/429035\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=429035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=429035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=429035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}