The country’s senior billionaire investor Rakesh Hun Hunwala will make a big bet in the aviation sector. “I would like to start a new airline,” Rakesh Unum said.
What is the plan In an interview with Bloomberg TV, Rakesh Unumhunwala gave detailed information about his new project. The airline plans to build 70 aircraft over the next four years, he said. Air Jhunjhunwala is looking to invest around $ 35 million in a new airline. The investment is expected to take a 40 per cent stake in the airline.
What’s the name According to Rakesh Jhunjhunwala, the cheapest airline is called Sky Air. The airline team includes former senior executives of Delta Air of America. The team is looking at flights that can seat up to 180 passengers. In the next 15 days, Rakesh Hunmunwala is expected to receive a No Objection Certificate (NOC) from the Civil Aviation Ministry of the Government of India.
These bets are being made by Rakesh Hun Hunwala at a time when the aviation sector is completely battered by Corona. Even before the corona epidemic, Indian airlines were in trouble. Kingfisher, the country’s second-largest domestic airline, ceased operations in 2012. At the same time, Jet Airways India Limited also had to close for two years due to heavy losses.
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Airline companies such as Indigo and SpiceJet are also at a loss. With the third wave of the corona, the sector may be affected again in the coming season.