‘Cannot thank Mr Jhunjhunwala enough for being an early believer’: Akasa Air

Akasa Air that started its commercial flights this month, thanked Rakesh Jhunjhunwala for being an “early believer”. Jhunjhunwala recently teamed up with ex-Jet Airways CEO Vinay Dube and former IndiGo head Aditya Ghosh to launch India's newest budget carrier, Akasa Air.

“We are deeply saddened by the untimely demise of Mr. Rakesh Jhunjhunwala this morning. Our thoughts and prayers are with Mr Jhunjhunwala’s family and friends. May his soul rest in peace,” it added in a statement. 

It further added, “We at Akasa cannot thank Mr Jhunjhunwala enough for being an early believer in us and putting his trust and faith in us and putting his trust in us to build a world-class airline. Mr Jhunjhunwala had an invincible spirit, was deeply passionate about everything Indian and cared greatly for the well-being of our employees and customers. Akasa Air will honour Mr Jhunjhunwala’s legacy, values and belief in us by striving to run a great airline.” 

The veteran stock market investor, often referred to as India's Warren Buffett died on Sunday morning. He was 62. Often referred to as 'India's Warren Buffett' and the Big Bull of Indian markets, Jhunjhunwala's net worth was USD 5.8 billion.

His portfolio includes companies like Star Health, Titan, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies, Tata Motors.

Overall, he had a stake in 47 companies at the end of the June quarter. Titan, Star Health, Tata Motors and Metro Brands were some of his largest holdings.

Born on July 5, 1960 in a Rajasthani family, Jhunjhunwala grew up in Bombay, where his father worked as a commissioner of Income Tax. He graduated from Sydenham College and thereafter enrolled at the Institute of Chartered Accountants of India.

Also read: Rakesh Jhunjhunwala death: Investor owned portfolio of 32 stocks worth Rs 30,000 crore

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