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Rakesh Jhujhunwala-backed Akasa Air gets NOC, to launch airline next year

Our Bureau Mumbai | Updated on October 12, 2021

Rakesh Jhunjhunwala   -  REUTERS

Rakesh Jhujhunwala-backed SNV Aviation Pvt. Ltd, the parent company of Akasa Air, has received the No Objection Certificate (NOC) from the Ministry of Civil Aviation.

In a statement on Monday, Vinay Dube, 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”.

BusinessLine was the first to report in February that Dube was looking to launch his airline. He later found ace stock market investor Rakesh Jhunjhunwala to invest in the airline. In March, he had also met the MoCA to seek approvals.

Recently, at an event, Jhunjhunwala said “I'm prepared for failure. I am conscious of the risk. I have the best management team. I am 98 per cent opinionated we will make a successful airline.”

Akasa Air, which will be headquartered in Mumbai, plans 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.

Dube said he wants an airline which will have a robust air transportation system as it is critical for the nation’s progress. “It is this belief that has motivated us to create a modern, efficient, quality-conscious airline. Moreover, Akasa Air will serve all Indians regardless of their socio-economic or cultural backgrounds with warmth, inclusiveness and respect. Because at the end of the day, it is these qualities that connect people and cultures and help Indians realise their dreams.”

Published on October 11, 2021

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