Dalal Street King Rakesh Jhunjhunwala’s backed Akasa Air has received the no-objection certificate from the Ministry of Civil Aviation, the holding company SNV Aviation Private Limited said on Monday.
The airline has been given permission to engage with the regulator on any remaining compliance issues.“ We are extremely happy and grateful to the Ministry of Civil Aviation for their support and for the grant of the NOC,” Vinay Dube, current CEO of Akasa Air, as per news agency PTI.
“We will continue to work with the regulatory authorities on all additional compliances required to successfully launch Akasa Air,” he added.
SNV Aviation Private Limited will operate its airlines under the name– Akasa Air, the airline said. Also, operations are expected to begin by the summer of 2022.
Former Air IndiGo president Aditya Ghosh is also a member of the board. The airline is aiming to operate 70 planes in the next four years.
As per the CNBC-TV18 report, Akasa Air will get its headquarter in Bengaluru and it will have a route network encompassing cities such as Bengaluru-Mumbai, Bengaluru-Chennai, Bengaluru-Hyderabad among others.
They further stated that the low-cost carrier is likely to choose for a Boeing narrow-body fleet and that it may even lease some MAX aircraft.
“Lower lease rentals due to COVID-19 and a weaker salary structure are likely to lead to lower expenses and thereby, work in favour of a new airline such as Akasa Air. However, the uncertain demand environment due to the COVID-19 pandemic could be a risk factor,” a source had said on August 4, quoted by CNBCTV18.