Rakesh Jhunjhunwala New Bet Plans 70 Planes For New Airline
Jhunjhunwala, the big bully of the stock market, is going to start a new airline company with 70 aircraft in the next 4 years.
New Delhi. Indian billionaire and stock market big bully Rakesh Jhunjhunwala is soon planning to buy 70 aircraft for a new airline company. According to media reports, Jhunjhunwala is going to start a new airline company with 70 aircraft in the next 4 years. He believes that more and more people should travel by air in India.
Also read: Good news for depositors, deposits up to 5 lakh in banks are completely safe
NOC can be obtained soon
In an interview given to the media, Jhunjhunwala told that he is planning to invest about 35 million dollars in the new airline company. With this investment, the airline plans to take 40 per cent stake in the company. He said that NOC can be obtained from the Indian Aviation Ministry in the next 15 or 20 days.
Sky travel will be cheap
According to Jhunjhunwala they want to start a low cost budget airline in India. It will be named Akasa Air. The new airline will include a large team along with a former senior executive of Delta Airlines. This team is looking at such a flight, in which 180 people will be able to travel at a time.
read this also: Invest in these SIPs for good returns, money will be more than three times in five years
Jhunjhunwala’s big bet
This is being said to be a big bet of Jhunjhunwala, the famous investor of the stock market in India. For some time, due to increasing competition, many airline companies in India have been closed. India is considered to be the fastest growing aviation market in the world. Because of this, Jhunjhunwala wants to take advantage of the opportunities being created in the aviation sector.
#Rakesh #Jhunjhunwala #Bet #Plans #Planes #Airline