‘I am prepared for failure,’ Rakesh Jhunjhunwala’s Akasa set for take-off
2 years, 4 months ago

‘I am prepared for failure,’ Rakesh Jhunjhunwala’s Akasa set for take-off

Live Mint  

The world is gripped by recession fears, jet fuel prices are sky-high, and aviation is a notoriously fickle industry. "People say that in order to become a millionaire, you first become a billionaire and start an aviation company," quips Anas Rahman Junaid, founder and managing director of rich list Hurun India. "The richest aviation billionaires in the world are from India: the founders of IndiGo," Junaid says, referring to Rakesh Gangwal and Rahul Bhatia -- whose 2006-launched airline is India's top domestic carrier. Barring British entrepreneur Richard Branson, whose $6 billion net worth is derived from diversified Virgin Group companies, Junaid says Gangwal and Bhatia -- each worth over $4 billion -- have created the most wealth from a "pureplay aviation business". The pandemic saw India's air travel industry lose an estimated $8 billion over two years, according to research by aviation market research firm CAPA.

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History of this topic

Indian-American CEO shares ‘worst’ experience on Delhi-bound Air India flight: Watch
3 months ago

Indian-American CEO shares ‘worst’ experience on Delhi-bound Air India flight: Watch

Hindustan Times  

An Indian-American passenger took to TikTok to criticise and slam Air India and share his “worst” experience while travelling on a business class seat from New Delhi to Chicago non-stop flight. Anip Patel, CEO of CaPatel Investments shared it was the “nightmare” and the “worst first class cabin” he had on and paid $6300 dollars for this horrible experience. Patel …

Akasa Air to become profitable and launch more international flights: Aditya Ghosh
6 months, 2 weeks ago

Akasa Air to become profitable and launch more international flights: Aditya Ghosh

Hindustan Times  

Akasa Air is well on the path to profitability and will fly to more international destinations, including in South Asia and Southeast Asia, according to its Co-Founder Aditya Ghosh. When a customer-focused and employee-centric organisation is being built, it is also important to build a financially sustainable business, Ghosh said and emphasised that Akasa Air is well on the path …

Jhujhunwala's Akasa Air beats out Air India, Indigo in Centre's on-time performance rankings; check list here
1 year ago

Jhujhunwala's Akasa Air beats out Air India, Indigo in Centre's on-time performance rankings; check list here

Hindustan Times  

Akasa Air has now beat top Indian airlines like Air India and Indigo for having the best on time performance, according to the ranking list released by the Ministry of Civil Aviation. Akasa Air tops the Civil Aviation Ministry's OTP rankings Aviation Ministry released the data for the on-time performance matrix, where Akasa Air was on the first rank with …

Akasa Air is a long-term bet for Jhunjhunwala family: CEO
1 year, 5 months ago

Akasa Air is a long-term bet for Jhunjhunwala family: CEO

Live Mint  

NEW DELHI : Akasa Air is a long-term investment for Rare Enterprises and the Rakesh Jhunjhunwala family, the airline’s founder and chief executive officer Vinay Dube said, pointing to the lengthy investment horizons of the late legendary investor. Akasa was the last of the investments that Rakesh made and one of the things that he had the greatest emotional ties …

Govt. right in intervening on airfare surge: Akasa Air
1 year, 6 months ago

Govt. right in intervening on airfare surge: Akasa Air

The Hindu  

The government is right in intervening over the issue of price gouging by airlines, says Akasa Air founder, Vinay Dube, days after a government advisory to airlines in the aftermath of the train crash in Odisha. don’t take advantage as people have to fly, don’t take advantage that you have a monopoly on a particular route,” Akasa Air founder and …

India has one of the best airfare regimes; there should be no 'gouging': Akasa Air CEO
1 year, 6 months ago

India has one of the best airfare regimes; there should be no 'gouging': Akasa Air CEO

The Hindu  

India has one of the best airfare regimes in the world, but there should not be "gouging" in terms of ticket prices to take advantage of a particular situation, according to Akasa Air CEO Vinay Dube. His comments come against the backdrop of concerns about a steep rise in airfares in certain routes amid capacity reduction due to the Go …

'Well deserved change': Akasa Air passenger posts photo of air hostess in new uniform
1 year, 9 months ago

'Well deserved change': Akasa Air passenger posts photo of air hostess in new uniform

India TV News  

An Akasa Air passenger shared a photo of a cabin crew member who was wearing custom trousers, a jacket and sneakers on-board flight saying it was happy to see a well deserved change. Taking to LinkedIn, a user named Diksha Mishra shared the post saying, "I recently took a flight from Akasa Air and was suprised but really happy to …

Akasa Air to hit foreign skies by end of 2023
1 year, 9 months ago

Akasa Air to hit foreign skies by end of 2023

The Hindu  

Late Rakesh Jhunjhunwala-backed Akasa Air, the new entrant in the Indian civil aviation sector, said it will start international operations to destinations that match the capability of Boeing 737 MAX’ by the end of calendar 2023. Vinay Dube, Founder and Chief Executive Officer, Akasa Air told The Hindu in Bengaluru that the airline would introduce international flights by the end …

Rakesh Jhunjhunwala-led Akasa Air adds Pune as ninth destination in its network
2 years, 1 month ago

Rakesh Jhunjhunwala-led Akasa Air adds Pune as ninth destination in its network

Live Mint  

Rakesh Jhunjhunwala-backed Akasa Air on Wednesday strengthens its connectivity by adding Pune as the ninth destination to its network. Akasa Air will commence double daily flights on the Bengaluru-Pune route starting with its first frequency on November 23, 2022, and the second frequency will be added from November 26, 2022, onwards. Praveen Iyer, Co-Founder, and Chief Commercial Officer, of Akasa …

‘Not A Clone’: Rakesh Jhunjhunwala On Being Called India’s Warren Buffet
2 years, 4 months ago

‘Not A Clone’: Rakesh Jhunjhunwala On Being Called India’s Warren Buffet

News 18  

India’s top stock investor and founder of Akasa Airlines, Rakesh Jhunjhunwala, breathed his last on August 14. Building a massive empire from smart investments, Jhunjhunwala was often dubbed India’s Warren Buffet. However, Jhunjhunwala did not find it a “fitting” comparison when he was called India’s Buffet. Jhunjhunwala became one of the richest people in India with a net worth of …

Rakesh Jhunjhunwala, ‘India’s Warren Buffet’, to be paid last respects today
2 years, 4 months ago

Rakesh Jhunjhunwala, ‘India’s Warren Buffet’, to be paid last respects today

Hindustan Times  

Rakesh Jhunjhunwala - who was often called ‘India’s Warren Buffet' - would be paid last respects in Mumbai on Sunday evening where the final rites of the billionaire investor would be performed. “We at Akasa cannot thank Mr. Jhunjhunwala enough for being an early believer in us and putting his trust and faith in us to build a world-class airline. …

‘A colossal loss’: Air India's message to Akasa Air on Rakesh Jhunjhunwala's demise
2 years, 4 months ago

‘A colossal loss’: Air India's message to Akasa Air on Rakesh Jhunjhunwala's demise

Hindustan Times  

Tata Sons-owned Air India on Sunday sent its condolences to India's newest airline, Akasa Air, after one of its co-founders, billionaire investor Rakesh Jhunjhunwala, passed away at the age of 62 in Mumbai. Jhunjhunwala passed away exactly a week after Akasa commenced its commercial operations, with the budget carrier's maiden flight operating between Mumbai and Ahmedabad. Meanwhile, Vinay Dube, CEO, …

Rakesh Jhunjhunwala’s legacy grew richer with Akasa Air, India’s newest airline
2 years, 4 months ago

Rakesh Jhunjhunwala’s legacy grew richer with Akasa Air, India’s newest airline

Hindustan Times  

Billionaire investor Rakesh Jhunjhunwala - who was often called ‘India’s Warren Buffett’ - would be remembered by investors across the country as a role model. A month after the airline received clearance from the aviation regulator DGCA, the union minister - on August 7 - inaugurated Akasa Air's first flight that took off from Mumbai to Ahmedabad. Jhunjhunwala - who …

Rakesh Jhunjhunwala’s journey, stock holdings and investment advice
2 years, 4 months ago

Rakesh Jhunjhunwala’s journey, stock holdings and investment advice

Live Mint  

Rakesh Jhunjhunwala, India's Warren Buffet, or famously called the Big Bull, is no more. Rakesh Jhunjhunwala’s first big profit was seen at ₹0.5 million in 1986 when he bought 5,000 shares of Tata Tea at ₹43 and within 3 months it was trading at ₹143. Jhunjhunwala never gave up on his love for Tata companies and its stocks, he held …

’Prepared for failure’: Rakesh Jhunjhunwala reply when questioned on Akasa Air
2 years, 4 months ago

’Prepared for failure’: Rakesh Jhunjhunwala reply when questioned on Akasa Air

Live Mint  

Akasa Air was one of the business ventures of Veteran stock market investor Rakesh Jhunjhunwala who passed away on Sunday morning. After his death, Akasa Air also released a statement saying, “We are deeply saddened by the untimely demise of Mr. Rakesh Jhunjhunwala this morning. Akasa Air will honour Mr. Jhunjhunwala's legacy, values and belief in us by striving to …

'I'm Ready For Failure,' Says Rakesh Jhunjhunwala As Akasa Takes Off its First Flight
2 years, 4 months ago

'I'm Ready For Failure,' Says Rakesh Jhunjhunwala As Akasa Takes Off its First Flight

News 18  

The world is gripped by recession fears, jet fuel prices are sky-high, and aviation is a notoriously fickle industry. “People say that in order to become a millionaire, you first become a billionaire and start an aviation company,” quips Anas Rahman Junaid, founder and managing director of rich list Hurun India. “The richest aviation billionaires in the world are from …

India expects 40 crore air travellers in next four years, says Jyotiraditya Scindia – Firstpost
2 years, 4 months ago

India expects 40 crore air travellers in next four years, says Jyotiraditya Scindia – Firstpost

Firstpost  

He said over the last eight years India’s civil aviation industry has been completely transformed New Delhi: Highlighting the transformation of India’s civil aviation industry, Union Civil Aviation Minister Jyotiraditya Scindia on Sunday said India is witnessing the democratisation of the aviation industry and the country expects to reach 40 crore air travellers in the next four years. Seven airlines …

Akasa Air takes to the skies
2 years, 4 months ago

Akasa Air takes to the skies

The Hindu  

India has a brand-new airline in Akasa Air which launched its first flight between Mumbai and Ahmedabad on Sunday morning. Akasa Air is the first major airline to take to the skies in seven years since Tata Sons- Singapore Airline joint venture Vistara started operations in 2015. We are now focused on delivering a flying experience unlike anything witnessed in …

In Pics: All about Rakesh Jhunjhunwala-owned low cost airline Akasa Air
2 years, 4 months ago

In Pics: All about Rakesh Jhunjhunwala-owned low cost airline Akasa Air

Live Mint  

In Pics: All about Rakesh Jhunjhunwala-owned low cost airline Akasa Air 6 Photos. Updated: 07 Aug 2022, 02:36 PM IST Share Via Ace investor Rakesh Jhunjhunwala-owned Akasa Air commenced commercial flight operations on August 7, 2022. Low-cost airline Akasa Air operated on the Mumbai-Ahmedabad route, will be followed by a phased operation in other cities including Kochi, Bangalore and Chennai. …

Akasa Air's first pic out: 'Can’t keep calm... coming soon to your sky', tweets R Jhunjhunwala backed airline
2 years, 7 months ago

Akasa Air's first pic out: 'Can’t keep calm... coming soon to your sky', tweets R Jhunjhunwala backed airline

India TV News  

Highlights Investor Rakesh Jhunjhunwala-backed airline Akasa Air plans to launch its first flight in June Akasa Air released first photos of aircraft with caption 'coming soon to your sky' Akasa Air had placed an order for 72 Boeing 737 MAX jets in November last year Ace investor Rakesh Jhunjhunwala-backed airline Akasa Air plans to launch its first commercial flight in …

Rakesh Jhunjhunwala-backed Akasa Air orders Boeing 737 MAX jets. Here’s all about the deal
3 years, 1 month ago

Rakesh Jhunjhunwala-backed Akasa Air orders Boeing 737 MAX jets. Here’s all about the deal

Hindustan Times  

Rakesh Jhunjhunwala-backed Akasa Air has placed an order for 72 Boeing 737 MAX jets, valued at nearly $9 billion at list prices, the US plane maker has said. Akasa Air is backed by ace investor Rakesh Jhunjhunwala, former IndiGo president Aditya Ghosh and former Jet Airways CEO Vinay Dube. “We are delighted to partner with Boeing for our first airplane …

What could work and what needn't for Rakesh Jhunjhunwala's airline venture
3 years, 2 months ago

What could work and what needn't for Rakesh Jhunjhunwala's airline venture

Business Standard  

Rakesh Jhunjhunwala-backed Akasa Air has secured the crucial no-objection certificate from the civil aviation ministry. Billionaire investor Rakesh Jhunjhunwala, also known as Warren Buffet of India, has invested Rs 247.50 crore for a 40 per cent stake in an ultra low-cost carrier, Akasa Air. The ace investor is planning to launch the airline with former Jet Airways CEO Vinay Dube …

Rakesh Jhunjhunwala-backed Akasa Air gets aviation ministry nod. Here’s more about the airline
3 years, 2 months ago

Rakesh Jhunjhunwala-backed Akasa Air gets aviation ministry nod. Here’s more about the airline

Hindustan Times  

Akasa Air, backed by billionaire Rakesh Jhunjhunwala, has said it has received initial clearance from the civil aviation ministry to launch the country's latest ultra-low-cost carrier and expects to begin flights across India next year. Akasa Air chief executive officer Vinay Dube said in a statement the airline will continue to work with the regulatory authorities on all additional compliances …

Aviation Ministry Gives Nod to Rakesh Jhunjhunwala-backed Akasa Air to Operate in India
3 years, 2 months ago

Aviation Ministry Gives Nod to Rakesh Jhunjhunwala-backed Akasa Air to Operate in India

News 18  

The Ministry of Civil Aviation has given a no-objection certificate for the operation of Rakesh Jhunjhunwala-backed new airline ‘Akasa Air’ in India, a company statement said on Monday. 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 …

A Stormy Flight Path for Rakesh Jhunjhunwala’s Akasa in the Turbulent Aviation Industry
3 years, 4 months ago

A Stormy Flight Path for Rakesh Jhunjhunwala’s Akasa in the Turbulent Aviation Industry

News 18  

The Indian aviation community is abuzz with the news of a new airline being added to the fleet. And why now in the midst of a pandemic?” The Indian aviation market comprises six large airlines: IndiGo, SpiceJet, GoAir, AirAsia India, Vistara and Air India. In fact, it may go a step further to attempt an ultra-low cost model, which in …

Rakesh Jhunjhunwala’s new airline may give Boeing a chance to regain lost ground
3 years, 4 months ago

Rakesh Jhunjhunwala’s new airline may give Boeing a chance to regain lost ground

The Hindu  

Billionaire Rakesh Jhunjhunwala’s plan to launch an ultra-low-cost airline, could give plane maker Boeing a chance to regain lost ground after the fall of one of its biggest customers, Jet Airways, two years ago, industry executives say. Mr. Jhunjhunwala, known as “India’s Warren Buffett” for his successful stock investments, plans to team up with former CEOs of IndiGo, the country’s …

Akasa Air: Rakesh Jhunjhunwala to invest $35 million for low-cost airline in India
3 years, 4 months ago

Akasa Air: Rakesh Jhunjhunwala to invest $35 million for low-cost airline in India

Hindustan Times  

Investor and billionaire Rakesh Jhunjhunwala is considering investing $35 million to launch 70 aircraft within the next four years, as a part of his ultra-low-cost airline Akasa Air, Jhunjhunwala told Bloomberg on Wednesday. Rakesh Jhunjhunwala is foraying into an industry that has suffered significant losses due to the ongoing coronavirus pandemic. Akasa Air is expected to get a no-objection certificate …

Billionaire Rakesh Jhunjhunwala Plans to Have 70 Planes for New Low-Cost Airline
3 years, 4 months ago

Billionaire Rakesh Jhunjhunwala Plans to Have 70 Planes for New Low-Cost Airline

The Quint  

Billionaire investor Rakesh Jhunjhunwala has said that he plans on setting up Akasa Air – a new, ultra-low cost airline in India. With an investment of USD 35 million and 40 percent ownership of the carrier, Jhunjhunwala said that he is expecting a no-objection certificate from India's aviation ministry in the next 15 days, Bloomberg reported. Amid a global pandemic, …

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