Akasa Air, the airline venture backed by billionaire investor Rakesh Jhunjhunwala, has received the no-objection certificate from the Ministry of Civil Aviation. SNV Aviation Private Limited will fly under the brand name Akasa Air and operations are expected to begin in the summer of 2022.
Akasa Air, the airline venture promoted by billionaire investor Rakesh Jhunjhunwala, has received the no-objection certificate from the Ministry of Civil Aviation, the holding company SNV Aviation Private Limited said on Monday.
SNV Aviation Private Limited will fly under the brand name Akasa Air, the airline said, adding that operations are expected to begin in the summer of 2022.
They had also said that the low-cost airline is likely to opt for a Boeing fleet of narrow-body aircraft and it may even get some MAX aircraft on lease.
“Lower lease rentals due to COVID-19 and a weaker salary structure are likely to lead to lower expenses and thereby, work in favour of a new airline such as Akasa Air. However, the uncertain demand environment due to the COVID-19 pandemic could be a risk factor,” a source had said on August 4.
(With PTI inputs)
(Edited by : Kanishka Sarkar)
First Published: IST
