Rakesh Jhunjhunwala and Aditya Ghosh to collaborate for the Akasa Airline
Aditya Ghosh will join with Rakesh Jhunjhunwala for India's new airline venture, Akasa as the co-founder.
Indigo's former President Aditya Ghosh will join with Rakesh Jhunjhunwala for a new airline venture. He will be the co-founder of India's new airline Akasa. Reportedly Ghosh would own less than 10 percent of the new enterprise as the nominee of Jhunjhunwala. Aditya Ghosh won't be a part of the management. Jhunjhunwala will have a 40 percent stake, and Dube will possess 15 percent also the post of CEO.
The Akasa airline will house 70 aircraft in the next four years. It will have 180 passengers on board. Reportedly, Jhunjhunwala is very much confident in the aviation sector in terms of demand. Along with the 40 percent ownership of Akasa Air, it is being expected a no-objection certificate from the Aviation Ministry in the next 15 days. Delta Air Lines Inc's former senior executive will also be associated with Jhunjhunwala's Akasa Air.
The Akasa Airline is launching in the time of the Covid-19 pandemic has impacted the aviation sector at a mass level. Many airlines are facing huge losses with the excessive layoff of employees or cutting their salaries.