New Delhi. Indian billionaire and famous stock market investor Rakesh Jhunjhunwala is soon planning to buy 70 of his aircraft for a new airline company. According to a Bloomberg report, Jhunjhunwala wants to start a new airline company with 70 aircraft in the next 4 years. Actually, stock market veteran Jhunjhunwala wants more and more people to travel by air in India.
Can get NOC from aviation ministry soon
In an interview to Bloomberg TV, Jhunjhunwala said that he is looking at investing around $35 million in the new airline company. Through this investment, there is a plan to take 40 percent stake in the airline company. He said that NOC can be obtained from the Indian Aviation Ministry in the next 15 or 20 days.
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Sky tour will be economical
Jhunjhunwala plans to start a low cost budget airline in India which will be named Akasa Air and The Team. This new airline will have a whole team like the former senior executive of Delta Airlines. This team is looking at such a flight in which 180 people can travel at a time.
Jhunjhunwala’s big bet
Jhunjhunwala, popularly known as Warren Buffet in India, is being said to be a big bet because many airlines in India have been closed due to increasing competition for some time. India is considered to be the fastest growing aviation market in the world, due to which Jhunjhunwala wants to take advantage of the opportunities being created in the aviation sector.
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