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Rakesh Jhunjhunwala-backed Akasa hires ex-IndiGo exec Ankur Goel as CFO

Rakesh Jhunjhunwala-backed Akasa hires ex-IndiGo exec Ankur Goel as CFO

Jhunjhunwala has reportedly invested Rs 247.50 crore in the airline. Founder of investment fund New Horizon, Madhav Bhatkuly, has also invested Rs 6 crore

Rakesh Jhunjhunwala-backed airline Akasa finalises top roles Rakesh Jhunjhunwala-backed airline Akasa finalises top roles

Ace investor Rakesh Jhunjhunwala-backed airline Akasa has roped in former head of treasury and investor relations in IndiGo Ankur Goel as its Chief Financial Officer. The airline founded by former Jet Airways CEO Vinay Dube also has former IndiGo president Aditya Ghosh onboard. It is also in negotiations with Boeing to add 737 Max jets to its fleet.

Goel was a core member of the team that led IndiGo’s public listing in 2015 that raised Rs 3,000 crore followed by a Qualified Institutional Placement (QIP) in 2017 through which it raised around Rs 4,000 crore.

Akasa aims to start operations by summer of 2022, as mentioned in a report in Business Standard.

Jhunjhunwala has reportedly invested Rs 247.50 crore in the airline. Founder of investment fund New Horizon, Madhav Bhatkuly, has also invested Rs 6 crore. Bhatkuly is known for identifying big companies early on, including Axis Bank, Apollo Hospitals, Sun Pharma, and Godrej Consumer where it was among the first institutional investors.

Vinay Dube will be the CEO, and Praveen Iyer will be the Chief Commercial Officer, apart from Goel who will act as the CFO, stated the daily. Bhavin Joshi has been picked as senior vice-president of finance and aircraft leasing, and former head of revenue management at Go Air, Anand Srinivasan, will be chief information officer. Belson Coutinho, Adam Voss, Ajit Baghchandani -- former Jet Airways executives -- will head marketing, engineering, inflight services respectively.

While the aviation industry has taken a beating, Jhunjhunwala said in an interview that he is very bullish on India’s aviation sector demand.

Also read: Aviation veteran Aditya Ghosh to help Jhunjhunwala’s ultra low-cost airline take off

Also read: Rakesh Jhunjhunwala likely to invest Rs 260.7 crore in new low-fare airline