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Rakesh Jhunjhunwala-promoted Akasa Air’s holding company SNV Aviation registered using Vinay Dubey's address

Last week, Dube said an application for a no-objection certificate has been sought from the aviation ministry for SNV Aviation, which will be the holding company for the proposed budget airline Akasa Air.

August 04, 2021 / 08:29 PM IST
Rakesh Jhunjhunwala

Rakesh Jhunjhunwala


SNV Aviation, the proposed holding company for Rakesh Jhunjhunwala-promoted Akasa Air, has been registered with the Registrar of Companies (ROC) using the personal address of former Jet Airways chief executive officer Vinay Dube, data from the ROC accessed by Moneycontrol showed.

Last week, Dube had repertedly said an application for a no-objection certificate has been sought from the aviation ministry for SNV Aviation, which will be the holding company for the proposed budget airline Akasa Air.

ALSO READ: Is Rakesh Jhunjhunwala’s Akasa another pie in the sky?

According to the data with the ROC, SNV Aviation has been registered to Dubey's personal address at Sewri in Mumbai and Sanjay Dube, Vinay Dube and Shonali Dube are listed as its directors.

On August 4, CNBC-TV18 reported that the Rakesh Jhunjhunwala-promoted Akasa Air has received no-objection certificate from the Civil Aviation Ministry and the Directorate General of Civil Aviation.

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According to the report, Akasa Air is most likely to opt for a Boeing fleet of narrow-body aircraft and is expected to receive an air operator permit post aircraft acquisition. The airline is aiming to begin operations by end of 2021.

Earlier on July 28, reports emerged that Jhunjhunwala was planning to have 70 planes in four years for the new airline venture that he has decided to back. Jhunjhunwala is expected to own nearly 40 percent of the stake in the new airline and is considering to invest $35 million in the venture.

Yaruqhullah Khan

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