SNV Aviation, which will fly under the brand name, Akasa Air, has received a No-Objection Certificate (NoC) from the Ministry of Civil Aviation as it embarks its journey to offer airline services, the company has announced today. 

Akasa Air is promoted by Rakesh Jhunjhunwala, an ace investor, who is known as the Big Bull in the stock market. Mr Jhunjhunwala is betting big on the world’s second-most populous country, which is hugely under-penetrated in air travel. Just about 8 per cent of India’s population flies. 

Akasa Air CEO Vinay Dube said: “We are extremely happy and grateful to the Ministry of Civil Aviation for their support and the grant of the NOC. We will continue to work with the regulatory authorities on all additional compliances required to successfully launch Akasa Air.” 

Akasa Air planned to offer flights across India starting early 2022. It aimed to be the nation’s most dependable, affordable and greenest airline, said Mr Dube today, adding that having a robust air transportation system was critical for the nation’s progress. “It is this belief that has motivated us to create a modern, efficient and quality-conscious airline,” he said. 

Mr Dube said that Akasa Air would serve all Indians with “warmth, inclusiveness and respect”. “It is these qualities that connect people and cultures and help Indians realise their dreams,” he added. 

Aditya Ghosh, the former president of IndiGo, who is on Akasa’s board, congratulated Mr Dube and his team on getting the NoC. “Many congratulations to VinayDube and Team #AKASA on receiving the NoC from MoCA,” he tweeted. 

The airline industry in India is seeing a major shift. On October 8, the Tata Group won the final bid worth Rs 18,000 crore for taking over loss-making Air India. The entire bid comprises taking over Rs 15,300 crore of debt and the rest of the amount, which is Rs 2,700 crore, will be paid in cash.