Rakesh Jhunjhunwala’s Akasa Airlines has obtained the NOC from the Aviation Ministry. SNV Aviation Pvt Ltd will operate under Akasa Air’s brand name, and Vinay Dube will be the CEO, reported CNBC- TV 18.
Money control has confirmed the same, and the low-cost airline supported by former Jet Airways chief executive officer Vinay Dube will now address the Directorate General of Civil Aviation (DGCA) for its Air Operator’s Permit.
“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,” Dube, now CEO of Akasa Air, said in a press release.
The company added to its statement that the airline is seeking to begin operation in India by the summer of 2022. Akasa Air and three other airline companies appealed for no-objection certificates from the civil aviation ministry to begin registered air passenger services and air cargo services in August.
According to reports, Akasa Air is in discussions with Boeing and Airbus for purchasing aircrafts. Earlier on July 28, reports surfaced that Jhunjhunwala planned on holding 70 planes in four years for a new airline investment that he has decided to sponsor. Jhunjhunwala is assumed to own almost 40 per cent of the stake in the new airline and is contemplating investing $35 million in the enterprise.
Ex-President of domestic carrier Indigo, Aditya Ghosh, will be the co-founder of Akasa, Jhunjhunwala and former Jet Airways CEO Vinay Dube. Apart from Jhunjhunwala, other investors incorporate Airbnb and Par Capital Management, which has investments in US ULCC Sun Country Airlines. Other vital posts at Akasa will see former Jet Airways senior VP Praveen Iyer take up the COO position.
In contrast, former GoAir revenue management VP Anand Srinivasan will be CTO, and former Jet flight operations VP Floyd Gracious will probably have a similar position. Industry veteran Neelu Khatri is being charged as head of corporate affairs.