Thursday, August 18, 2022

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

Akasa Air is well-capitalised to induct 72 aircraft over the next five years thanks to the visionary role played by Rakesh Jhunjhunwala, the newly launched airline’s CEO Vinay Dube said on Wednesday. He noted that the company’s financial platform was strong enough to allow Akasa to place a much larger aircraft order in the next 18 months.

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

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

The sudden demise of Akasa Air’s founder Jhunjhunwala raised questions over the future of the airline. However, Dube has repeatedly emphasised that Jhunjhunwala demise was not going to have an impact on the airline’s operations and future.

“We are also thankful that Mr. Jhunjhunwala 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 having to fall back on him or any other investor. Anyone that saw him on our inaugural flight on August 7th knows how proud he was of each Akasa employee and partner,” Dube said.

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

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

17/08/22 Kriti Bhalla/Business Insider

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