NEW DELHI: India may gets a new low-cost airline in the face of Akasa Airlines. The airline is backed by an Indian businessman and stock trader Rakesh Jhunjhunwala, the chairman of Aptech Limited and Hungama Digital Entertainment Ltd. A week ago the millionnaire had met Prime Minister Modi.
The Aviation Ministry on Oct 11th issued a vital no objection certificate (NOC) for Akasa Airlines to go ahead with its plans. Vinay Dube, the CEO of Akasa Air, said, “We are extremely happy and grateful to the Ministry of Civil Aviation for their support and for the grant of the NOC. We will continue to work with the regulatory authorities on all additional compliances required to successfully launch Akasa Air”.
The SNV Aviation Pvt. Ltd, the parent company of Akasa Air, now requires an air operator permit from the Directorate General of Civil Aviation (DGCA) for finally launching its wheels in the air. Akasa Air expects that the airline will be up and running till the summer of next year.
The Airline, in a statement, said, “we plan to offer flights across India starting in the summer of 2022 with an endeavour to be the nation’s most dependable, affordable and greenest airline.” The company’s CEO Dube is also a former CEO of India’s biggest private airline, Jet Airways until it got bankrupt and backed out of the market.
With Air India coming back to Tata Sons in a bid, chances of a Jet Airways 2.0 version and current market situation since the pandemic hit, Akasa Air will face a tough time to survive in this competitive market.