New Delhi: Rakesh Jhunjhunwala-backed yet to be launched Akasa Airline is holding advanced talks with US major Boeing for 737 Max jets. Earlier, the airlines officials held meetings with Airbus for A320neo jets, according to a report by Bloomberg.
However, the deal is yet to be finalized between Boeing and Jhunjhunwala-backed airline which is yet to receive approval from the Civil Aviation Ministry in India, the Bloomberg report says.
Rakesh Jhunjhunwala Net Worth, Holdings, Latest News
- In July, Jhunjhunwala told Bloomberg Television in an interview that the new airline was planning to have a 70-aircraft fleet in four years.
- The estimated value of 70 units of 737 Max-8 jets is USD 8.5 billion. However, in large aircraft orders, discounts are given, the Bloomberg report says.
- Jhunjhunwala was planning for an investment to the tune of USD 35 Million in the yet-to-be launched airline.
- The ace billionaire is likely to own 40 per cent of the carrier, the report said.
- The budget airline may become operation by the end of this year or the beginning of the next year, as per a report in Times of India.
- “For the culture of a company to be frugal you’ve to start off fresh…I’m very, very bullish on India’s aviation sector in terms of demand,” Jhunjhunwala told Bloomberg Television.
- Rakesh Jhunjhunwala, popularly know as the Big Bull, has and estimated net worth of Rs 34,250 crore, according to Forbes report.
- Jhunjhunwala’s investment plan comes at a time when India’s domestic aviation market has been impacted severely by the Covid pandemic.