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Rakesh Jhunjhunwala’s Akasa Airlines gets government nod, NOC from aviation ministry

SNV Aviation Pvt Ltd will fly under the brand name Akasa Air and Vinay Dubey will be its CEO

Rakesh Jhunjhunwala’s Akasa Airlines has got a No Objection Certificate (NOC) from the Ministry of Civil Aviation and will work with the regulators on all additional compliances. According to a CNBC-TV18 report, SNV Aviation Pvt Ltd will fly under the brand name Akasa Air and Vinay Dubey will be its CEO. Its flights will start from the summer of 2022. Akasa Air is an upcoming Indian airline in which Rakesh Jhunjhunwala has invested.

MoneyControl has verified this and the low-cost airline promoted by former Jet Airways CEO Vinay Dube will now approach the Directorate General of Civil Aviation (DGCA) for its air operator’s permit.

Dubey, CEO of Akasa Air, said in a press release, “We are extremely happy and grateful to the Ministry of Civil Aviation for their support and NOC. We work with the regulatory authority on all additional compliances required to successfully launch Akasa Air. will continue to do so.”

The company said in its statement that the airline wants to start operations in India by the summer of 2022. Akasa Air and three other airlines had applied for NOC from the civil aviation ministry in August to start scheduled air passenger service and air cargo service.

According to reports, Akasa is in talks with Air Boieng and Airbus to buy the aircraft. Earlier on July 28, reports surfaced that Jhunjhunwala was planning to have 70 aircraft in four years for a new airline venture, which he has decided to withdraw.

Jhunjhunwala is expected to hold around 40 per cent stake in the new airline and is looking to invest $35 million in the venture. Former chairman of domestic airline Indigo, Aditya Ghosh will be the cofounder of Akasa along with Jhunjhunwala and former CEO of Jet Airways Vinay Dubey.

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