Indian billionaire business magnate, stock trader and investor Rakesh Jhunjhunwala (62) passed away on August 14 due to a kidney ailment. Jhunjhunwala, India's 36th Richest man with assets worth $5.5 billion, was active in stock market, and was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. He also sat on boards in Prime Focus Limited, Geojit Financial Services, and others. Business fraternity is mourning… read-more
Courtesy: The Free Press Journal
Akasa Air received the first 737 Max airplane from Boeing in Seattle, USA on June 16. Akasa Air sealed an agreement with Boeing to acquire 72 Max jets, three months after Indian aviation regulator DGCA granted green light. "This brings us one step closer to the process of obtaining our Air Operator's Permit and leading to our commercial launch," said Vinay Dube CEO of Akasa Air.
Courtesy: Free Press Journal
India’s new budget-friendly airline Akasa Air, backed by Rakesh Jhunjhunwala, plans to launch its first commercial flight in June 2022. In addition, the Ministry of Civil Aviation (MoCA) and the Directorate General of Civil Aviation (DGCA) are working in collaboration to get the required clearances for kicking off the air operations. Notably, the announcement was made by CEO Vinay Dube at a session of Wings India 2022… read-more
Courtesy: Zee News
According to a corporate statement released on October 11, the Ministry of Civil Aviation has issued a No-Objection Certificate (NOC) for the establishment of Rakesh Jhunjhunwala's new airline "Akasa Air". By the summer of 2022, the new airline hopes to be operational. Rakesh Jhunjhunwala and Vinay Dube, the former CEO of Jet Airways, have financed Akasa Air. In the next four years, the airline intends to operate over 70 planes.
Courtesy: India Tv
Rakesh Jhunjhunwala-backed new airline Akasa has reportedly started the discussion with the European plane manufacturer Airbus and America's Boeing to procure aircraft to begin its operation by the summer of 2022. Furthermore, the airline has planned to develop a fleet of 70 planes in the next four years. Akasa is expected to build its fleet either with Boeing's B737 Max or Airbus' A320 aircraft.
Courtesy: Deccan Herald
Stock trader Rakesh Jhunjhunwala made nearly Rs 900 crores from his shareholding in Tata Motors Group in the month of September. Tata Motors share price has surged around 13 per cent in October itself and is expected to remain in the bullish phase for quite some time, according to the experts. Jhunjhunwala even invested in Titan's shares and the company's shares went up 11.40 per cent in this period.
Indian investor Rakesh Jhunjhunwala financed Nazara Technologies Ltd - one of India's biggest interactive gaming and sports media companies - became the first Indian gaming technology company to enter the stock market. Though the firm got SEBI’s approval to file Initial Public Offer in 2018, it had filed IPO documents on January 15. Reportedly, Nazara will float 55,43,052 shares equity shares in the market that will be managed by ICICI… read-more
Courtesy: Times Now News