Moneycontrol PRO
you are here: HomeNewsBusiness

Rakesh Jhunjhunwala airline: Shankar Sharma takes dig at ace investor’s aviation plans

Rakesh Jhunjhunwala, on July 28, told Bloomberg that he was considering investing $35 million in the airline venture and would own 40 percent of the carrier.

July 30, 2021 / 02:05 PM IST
Shankar Sharma was responding to a tweet by Samir Arora, founder of Helios Capital, who tweeted a picture of an almost empty aircraft cabin.

Shankar Sharma was responding to a tweet by Samir Arora, founder of Helios Capital, who tweeted a picture of an almost empty aircraft cabin.


Shankar Sharma, the co-founder of First Global, took a dig at ace investor Rakesh Jhunjhunwala's plans to start an airline.

Sharma was responding to a tweet by Samir Arora, founder of Helios Capital, who tweeted a picture of an almost-empty aircraft cabin.

"This clearly is absolutely the BEST time to launch an airline. Revenues can double everyday for the next 2 years," Sharma tweeted, referring to the harsh impact of the COVID-19 pandemic on the aviation sector.

Also read: Rakesh Jhunjhunwala's airline Akasa will have to differentiate. You can't be an IndiGo to beat IndiGo

Jhunjhunwala, on July 28, told Bloomberg that he is considering investing $35 million in the airline venture and would own 40 percent of the carrier.

Jhunjhunwala said he expects a no-objection certificate (NOC) for the airline venture from the Ministry of Civil Aviation in the next 15 days.

He added that he was planning on having 70 planes in four years for the airline.

The Economic Times separately reported that former IndiGo President Aditya Ghosh would be co-founder of the airline, called Akasa, along with Jhunjhunwala and former Jet Airways CEO Vinay Dube.

Moneycontrol News
first published: Jul 30, 2021 02:04 pm
Sections
ISO 27001 - BSI Assurance Mark