The Ministry of Civil Aviation has given a no-objection certificate (NOC) for the operation of Rakesh Jhunjhunwala-backed new airline ‘Akasa Air’ in India, a company statement said on Monday.
The new airline aims to start operations by the summer of 2022, the holding company, SNV Aviation Private Limited, said.
Akasa Air is backed by ace investor Rakesh Jhunjhunwala and ex-Jet Airways CEO Vinay Dube
‘We are extremely happy and grateful to the Ministry of Civil Aviation for their support and for the grant of the NOC,” Dube, who is now the CEO of Akasa Air, was quoted as saying in the statement.
“We will continue to work with the regulatory authorities on all additional compliances required to successfully launch Akasa Air,” he added.
Akasa Air also has former IndiGo president Aditya Ghosh on its board.
The airline plans to operate approximately 70 planes in the next four years.
Akasa has been in discussions with US plane manufacturer Boeing to procure its B737 Max planes, multiple media reports had said two months back. Airbus’ A320 series of aircraft competes with Boeing’s B737 series of planes in the aviation market.
When asked about his entry into the aviation sector when some companies have gone bust, Jhunjhunwalaâ€‹ hadâ€‹ â€‹repliedâ€‹â€‹â€‹ he cannot say much but he is prepared for any outcome.
“We will see what happens. If it becomes successful, I will tell you about it and if it fails, I will simply say I didn’t do anything much about it. I am taking a conscious risk…I am hopeful and prepared for failure,” he â€‹â€‹â€‹â€‹had added.