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Rakesh Jhunjhunwala’s latest aviation bet: A fresh, frugal, low-cost airline

Billionaire investor Rakesh Jhunjhunwala has said he will launch an airline that will have up to 70 planes within four years. The billionaire is considering investing $35 million in Akasa Air, and would own 40 percent of the airline, he told Bloomberg Television on July 28. He plans to rope in Aditya Ghosh, the former president of IndiGo as co-founder, The Economic Times reported. Former chief of Jet Airways also is expected to come on board. It’s not the first time the Big Bull of Dalal Street is betting on the Indian aviation space. Find out why he thinks it’s an attractive investment avenue.

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