'Thanks to Rakesh Jhunjhunwala, Akasa Air is a well-capitalised airline,' says CEO Vinay Dube

Akasa Air, thanking Rakesh Jhunjhunwala, said that they will honour the ace investor’s legacy, values and belief. It also stated that the airline is well-capitalised, thanks to the ‘Big Bull’. Founder and CEO of Akasa Air, Vinay Dube said that they have received their third aircraft in Delhi, but continue to mourn the passing of Jhunjhunwala. 

“Yesterday we received our third aircraft in Delhi, which will be put into operation on the Mumbai-Bengaluru sector shortly. We will continue to grow our fleet by adding one new aircraft every two weeks. While these are gratifying moments in our journey, we at Akasa Air continue to mourn the passing of Mr Jhunjhunwala. For those of us at Akasa that got to know him and whose lives he has touched, this is a deep personal loss,” said Dube. 

Dube added that the airline will always be grateful to the ace investor. “Thanks in no small part to Mr. Jhunjhunwala, for which we will always be grateful, Akasa Air is a well-capitalised airline with the financial means to induct 72 aircraft over the next five years,” he said.

Akasa Air’s financial platform is strong enough for them to place an aircraft order significantly larger than their first in the next 18 months, said Dube. “ In simple terms, our growth is secure,” he said. 

The founder of Akasa Air thanked Jhunjhunwala for supporting them in “recruiting some of the best aviation talent in the country”. “He wanted us to have a top-notch leadership team that made all day-to-day decisions at the airline without having to fall back on him or any other investor,” he said, adding that Jhunjhunwala was proud of the airline’s employees and partners. 

“Mr Jhunjhunwala recognised India’s potential as one of the fastest-growing aviation markets in the world with an unparalleled potential and decades of progress ahead of us. He was a true believer in India’s potential and saw Akasa Air serving our nation by building the transportation links that will support India’s ongoing economic transformation,” said Dube. 

Rakesh Jhunjhunwala, often known as India’s Warren Buffett, passed away on Sunday due to prolonged illness. 

Also read: Rakesh Jhunjhunwala death: What will happen to Akasa Air now?