Investor Rakesh Jhunjhunwala may back new low-cost airline awaiting NOC from MoCA

Investor Rakesh Jhunjhunwala may be exploring a plan to back a new, low-cost airline venture. He has had preliminary talks with a team of senior aviation professionals for an investment of up to US$35 million (₹260.7 cr) in the new airline. It is tentatively named ‘Akasa’ (sky) and is awaiting a no-objection certificate from the Ministry of Civil Aviation.