Introduction to Akasa Air
Akasa Air is a new private commercial airlines company founded by stock trader and Indian billionaire Mr. Rakesh Jhunjhunwala. It was founded in December 2021 by the company SNV Aviation Pvt. Ltd. The initial round of investment made is $ 50 million.
| Name | Akasa Air |
| Parent Company | SNV Aviation Pvt. Ltd. |
| Establishment | December 2021 |
| Headquarter | Mumbai, Maharashtra, India |
| Chief Executive Officer | Vinay Dubey |
Akasa Air has already been making headlines as the Indian low-cost carrier airline. It operates with a low cost business model. The company is flying with an aim to connect the metro cities with the tier 2 and tier 3 cities of India. The company strongly believes in employee centric culture for sustainable and participatory operation. Travelers will definitely benefit from the introduction of new airlines in India. This will make the Indian Aviation Industry more competitive.
Ownership Structure
| Shareholders | Ownership |
| Mr. Rakesh Jhunjhunwala & wife | 45.97 % |
| Mr. Vinay Dube | 16.13 % |
| Mr. Madhav Bhatkuly | 9.41 % |
| Mr. Sanjay Dube | 7.59 % |
| Mr. Niraj Dube | 7.59 % |
| PAR Capital Ventures LLC | 6.37 % |
| Mr. Kartik Verma | 1.93 % |
| Mr. Ninan Chacho | 1.07 % |
| Others | 3.94 % |
| Total | 100 % |
Mr. Rakesh Jhunjhunwala
Rakesh Jhunjhunwala is an Indian billionaire businessman, a prominent stock trader and an investor. He is regarded as Indian Warren Buffett. The network of Mr. Jhunjhunwala is worth $ 5.7 billion. Other major holdings and investments of Mr. Rakesh Jhunjhunwala are:
| Stocks | Holding Value |
| Titan Company Limited | Rs. 8685.2 crore |
| Star Health and Allied Insurance Company Limited | Rs. 6274.5 crore |
| Metro Brands Limited | Rs. 2116.3 crore |
| Tata Motors Limited | Rs. 1526.6 crore |
| Crisil Limited | Rs. 1244.4 crore |
| Fortis Healthcare Limited | Rs. 726 crore |
Mr. Vinay Dube
Vinay Dube is an aviation industry veteran. He has served as the CEO of the two airlines i.e. Jet Airways and GoAir. Currently he is the CEO and co-founder of Akasa Air.
He has served in the executive position of Delta Airlines, a major carrier in the United States and an oldest airline. He served as a Senior VP for the Asia-Pacific operation of Delta Airlines.
Madhav Bhatkuly
Madhav Bhatkuly is the founder, Chief Executive Officer, Chief Investment Officer of New Horizon Investment Inc. He founded the company in 2008. He has also been a board member of Unite Breweries Limited since 2009.
He holds 9.41% of Akasa Airline, the third highest shareholder.
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