'Rakesh Jhunjhunwala cared greatly for well-being of our employees': Akasa Air

Rakesh Jhunjhunwala died in August 14, 2022, after suffering from a cardiac arrest.

Rakesh Jhunjhunwala, one of India’s most cherished stock market experts and a chartered accountant, died last year on August 14. On his death anniversary, Akasa Air paid tribute to the ace investor. Jhunjhunwala had invested $50 million in the airline in 2021. And on August 7, 2022, a week before Jhunjhunwala’s death, the airline operated its inaugural flight from Mumbai to Ahmedabad with Jhunjhunwala among its passengers.

"Today, we honour and remember the life of a visionary, a trailblazer, and the true titan, that was the late Mr. Rakesh Jhunjhunwala," Akasa Air tweeted. "As we mark the anniversary of his passing, we reflect on the indelible mark he has left on India’s progress and his enduring impact on generations to come."

The airline called Jhunjhunwala a true believer in the country's potential and saw Akasa Air building the transportation links to support India’s ongoing economic transformation.

"He seeded the ability that enables Akasa to deliver on our ambitious roadmap. We cannot thank him enough for being an early believer and for putting his faith in us to build a world-class airline," the company stated. "Mr. Jhunjhunwala had an invincible spirit, was deeply passionate about everything Indian and cared greatly for the well-being of our employees and customers. Akasa Air will always honour his legacy, values and belief in us by striving to run a great airline."

In Loving Memory of Mr. Rakesh Jhunjhunwala

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Today, we honour and remember the life of a visionary, a trailblazer, and the true titan, that was the late Mr. Rakesh Jhunjhunwala. As we mark the anniversary of his passing, we reflect on the indelible mark he has left on India’s… pic.twitter.com/u5BE0RO0OR — Akasa Air (@AkasaAir) August 14, 2023

Speaking about the airline, Rakesh Jhunjhunwala had said that Akasa Air is a "frugal airline" and will be very competitive in the aviation space.

Expressing confidence in the future of India's aviation sector, billionaire Jhunjhunwala, also known as "India's Warren Buffett", told CNBC TV-18 in an exclusive interaction, "Our competitors are ordering new chairs in response to Akasa's chair."