The co-founder of new Indian low-cost airline Akasa Air, billionaire Rakesh Jhunjhunwala, has died at the age of 62.
Akasa Air, which has ordered 72 Boeing 737 MAX aircraft in order to connect tier 2 and 3 cities in India, launched just one week ago, on August 7, 2022.
Investor Jhunjhunwala, who died on August 14, 2022, was India’s 36th richest man according to Forbes and often referred to as the Warren Buffet of India.
“We at Akasa cannot thank Mr Jhunjhunwala enough for being an early believer in us and putting his trust and faith in us to build a world-class airline,” the airline said in a statement on August 14, 2022. “Akasa Air will honour Mr Jhunjhunwala’s legacy, values and belief in us by striving to run a great airline.”
— Akasa Air (@AkasaAir) August 14, 2022
Rival carrier Air India also sent condolences to the investor’s family, describing the news of his death as shocking.
#FlyAI: Deeply saddened to hear the shocking news of the passing away of Shri Rakesh Jhunjhunwala. Our sincere condolences to his family members and to the entire Akasa Air family. May God give them the strength to tide over this colossal loss. pic.twitter.com/aUENObiPCz
— Air India (@airindiain) August 14, 2022
