Big Bull Process to Akasa Airlines:
Early Life of Rakesh Jhunjhunwala Family Background India’s Big Bull was born on 5 July 1960 in middle class family. Rakesh Junjhnwala was also known as The Big Bull of the Indian stock market. He was also an investor as well as a trader. His interest in stocks made him enthusiastic about the stock market.He graduated with a degree in commerce from the University of Mumbai. Rakesh Junjhnwala started his stock market career in his college time. His groundwork with the stock market made him a renowned Indian stock marketer. Akasa Airline is an ultra low cost Indian airline by Big Bull and former Jet Airways CEO Vinay Dube.
In October 2021, Akasa Airline received NOC from the Ministry of Civil Aviation. Acquiring NOC is the first stage, after that Air Operator Permit certificate. Thereafter the technical viability of the airline received safety clearance. The Akasa Airline plans to operate with 70 planes in the next 4 years. The airline is into buying 737 Max Boeing aircraft. Aditya Ghosh former CEO is also associated and Praveen Iyer the chief commercial officer.
Former Jet Airways Belson Coutinho, Ajit Baghchandani, and Adam Voss will be marketing heads of engineering and Inflight service. Horizon has also invested Rs6 cr. Who is the founder of an investment fund? Ankur Goel former head of Indigos treasury and relations will be Chief Financial Officer. While Big Bull invested Rs 247.50 cr. Akasa Airlines is all set for a new growth phase.
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In January Akasa Airlines is flying Internationally with Boeing 737 Max. By this Akasa Airlines has a market share of 4 per cent as a low-cost airline in the Indian aviation industry. Rakesh Junjunwala takes another risk and invests 35 million an estimated 40 percent stake under his wife’s name. Now the total stake is 46% with 3 trusts his children only Nishtha, Aryavir and Aryaman.
Akasa Airlines attracts staff and offers stocks to gain a foothold in the air market. Akasa crew uniform has been designed with recycled polyester fabric and PET bottles and shoes are from recycled rubber. For the safety of the environment, the airline is using less fuel-efficient engines to save fuel up to 20%. Food and beverage menu 60 meals across the globe from the finest shef of India. To serve their passenger with good taste and experience. On 7 August 2023, Akasa flyes Internationally making one more move towards the expansion of flight.
As per records Akasa Airline has 24 aircraft and connects 20 cities with almost 100 plus flights daily. By this market share from 0.2 to 5.2 rise in just one year. In July and August, almost 527000 and 624000 passengers were carried respectively by the Akasa Airline. The Akasa Airline recently announced with 150 Boeing 737 max with a sitting capacity of 220 passengers.
Dube the second holder in Akasa Airline told me that sooner or later we would be on a path of the 30 biggest airlines with Doha on the next destination to fly. In August 2022 Big Bull who had a big hand over the Indian stock market passed away in Mumbai at the age of 62 on Sunday. As per the news, he has not been well for the last few days and has taken his last breath in Breach Candey Hospital Mumbai as per records.
