In fact, after the departure of big players like Kingfisher Airlines, Jet Airways in the aviation sector, low cost airlines started spreading their feet.
Rakesh Jhunjhunwala
Rakesh Jhunjhunwala, who is called the Big Bull of the stock market, is now preparing to play a big bet in the country’s aviation sector after the stock market. According to a report by Times Group, Rakesh Jhunjhunwala is planning to invest in low cost airlines. According to sources, negotiations are going on with foreign investors for this scheme. According to sources, Rakesh Jhunjhunwala can invest around Rs 260 crore in this venture.
The Times report, quoting aviation industry sources, said that Rakesh Jhunjhunwala and a foreign investor have already started talks to complete this plan. This conversation has been led by Vinay Dubey, former CEO of Jet Airways. If all the talks are final, then another airline company can enter the country.
Consideration of 40 per cent equity holding
Actually, Rakesh Jhunjhunwala is now considering playing a big bet on the airline. If this bet is successful, then Jhunjhunwala can get an equity holding of 40 percent in the new airline company. Apart from Rakesh Jhunjhanwala and a foreign investor, some veterans of the aviation industry are also involved in this entire scheme. In which Pravin Iyer, former Vice President of Jet Airways and former COO of GoAir, and Arvind Srinivasan, Head of Revenue Management at GoAir, are also included. It is believed that the name of this airline company can be ‘Akash’.
plan to start next year
It is expected that if all the negotiations go well, then this deal will be finalized by next year and this airlines can be started by the middle of next year. Aviation ministry sources have been quoted as saying that the first step for this entire deal will be NOC. Negotiations regarding NOC are being considered in the final round. In fact, after the departure of big players like Kingfisher Airlines, Jet Airways in the aviation sector, low cost airlines started spreading their feet. Now if these airlines come in this episode. If this happens then players like GoAir, Indigo can get competition.
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