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Akasa Air has enough capital to import 72 aircraft thanks to Rakesh Jhunjhunwala’s visionary role, CEO says

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  • Founder’s Sudden Death Rakesh Jhunjhunwala questions about the future of Akasa Air.
  • However, CEO Vinay Dube has emphasized that Akasa Air’s future and operations are secure.
  • It is India’s seventh largest airline along with IndiGo, Air India, Vistara, SpiceJet, Go Airlines and Jet Airways.

Akasa Air is well capitalized to introduce 72 aircraft over the next five years thanks to the visionary role of Rakesh Jhunjhunwala, Vinay Dube, CEO of the recently launched airline, said Wednesday. He noted that the company’s financial platform was strong enough to allow Akasa to place a much larger order for aircraft over the next 18 months.

Akasa Air was the latest venture of stock market mogul Rakesh Jhunjhunwala, who passed away Sunday morning. The airline took its maiden flight on August 7, just one week before his death.

“In simple terms, our growth is certain,” Dube said on Tuesday, taking delivery of Akasa Air’s third aircraft.

The sudden death of Akasa Air’s founder, Jhunjhunwala, raised questions about the airline’s future. However, Dube has repeatedly stressed that Jhunjhunwala’s passing would have no impact on the airline’s operations and future.

“We are also grateful that Mr. Jhunjhunwala has supported us in recruiting some of the best aviation talent in the country. He wanted us to have a top-notch leadership team that made all day-to-day decisions at the airline without relying on him or any other investor. Anyone who saw him on our inaugural flight on August 7 knows how proud he was of every Akasa employee and partner,” said Dube.

READ MORE:
Life and Times of Rakesh Jhunjhunwala — the Man Behind the Trader

He noted that Jhunjhunwala recognized India’s potential as one of the fastest growing aviation markets in the world. “Akasa Air will honor Mr. Jhunjhunwala’s legacy, values ​​and belief in us by striving to run an extraordinary airline,” he concluded.

The airline has received
his Air Operator Certificate (AOC) from the Civil Aviation Supervisor, Directorate General Civil Aviation (DGCA) in July this year. It is India’s seventh largest airline along with IndiGo, Air India, Vistara, SpiceJet, Go Airlines and Jet Airways.

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