Rakesh Jhunjhunwala-backed Akasa Air has said it expects to fly next yearAkasa Air, backed by billionaire Rakesh Jhunjhunwala, said on Monday it expects to begin flying next year after getting preliminary clearance from the Civil Aviation Ministry to launch the nation's latest ultra-low cost carrier.The approval comes at a time when the nation's air travel industry is reeling from the effect of the COVID-19 pandemic, with airlines losing billions of dollars, however the sector's long-term possibility makes the country a hot market for aircraft makers Boeing and Airbus.SNV Air travel, which will fly under the Akasa Air brand, stated in a declaration it has gotten a no objection certificate from the ministry and expects to begin flights throughout India in the summer season of 2022.
Akasa Air CEO Vinay Dube stated in the statement the airline company will continue to work with the regulatory authorities on all additional compliances needed to effectively launchThe company did not intricate but under requirements to start an airline, it will likewise need clearance from air travel watchdog, the Directorate General of Civil Aviation.Mr Jhunjhunwala, known as India's Warren Buffett for his successful stock investments, partnered with Aditya Ghosh, former CEO of IndiGo - the nation's biggest carrier - and Mr Dube to introduce the provider to take advantage of demand for domestic air travel.Mr Dube is previous CEO of Jet Airways - once India's most significant private provider before it stopped flying in April 2019 after lacking cash, owing billions to lending institutions and leaving thousands without jobsJet was recently bailed out of insolvency.
Mr Ghosh, who invested a decade with IndiGo, was credited with IndiGo's early success.While details of the new venture, consisting of any decision on plane orders, have actually not been formally disclosed, Akasa is currently moving towards what could be one of the biggest deals of the year outside the United States to get purchased or rented Boeing 737 airplanes, Reuters reported in July.