India’s ace investor and billionaire Rakesh Jhunjhunwala-backed Akasa Air today (May 23) revealed the picture of its first-ever aircraft.
India’s ace investor and billionaire Rakesh Jhunjhunwala-backed Akasa Air today (May 23) revealed the picture of its first-ever aircraft.
The brand new ultra low-cost airline will be based out of Mumbai and plans to begin operations this July. Its first aircraft will be delivered in June.
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It is reportedly readying one of the biggest aircraft purchase or lease deals of the year outside the US, involving at least a hundred Boeing $BA 737 planes.
In an interview with Bloomberg last year, Jhunjhunwala said Akasa Air will have 70 aircraft in its fleet initially. He also hinted at investing up to $35 million in the airline and, according to media reports, will own a 40% stake in it.
Once Akasa Air takes delivery of the fleet, it will have to conduct successful proving flights, the last step for a carrier to obtain an air operator certificate.
