Rakesh Jhunjhunwala, the ace investor has taken a bold move in planning to launch a new low-cost airline, Akasa Air. Â He remains optimistic about the future of the country’s aviation sector, thinking that more people all travel by air in future. Informed that the ultra-low-cost airline and the team, having former senior executive of Delta Air Lines Inc., is searching for planes that can carry at least 180 passengers. The billionaire plans to start the airline within the next four years, with a fleet of 70 aircraft. Jhunjhunwala is considering investing US$35 million for the venture and would own 40 per cent stake in the airline.
