“I can’t thank Mr. Jhunjhunwala enough for being one of the first believers”: Akasa Air
Akasa Air, which began commercial flights this month, thanked Rakesh Jhunjhunwala for being a “first believer”. Jhunjhunwala recently teamed up with former Jet Airways CEO Vinay Dube and former IndiGo director Aditya Ghosh to launch India’s newest budget carrier, Akasa Air.
“We are deeply saddened by the untimely passing of Mr. Rakesh Jhunjhunwala this morning. Our thoughts and prayers go out to the family and friends of Mr. Jhunjhunwala. May his soul rest in peace,” he added in a statement.
He further added, “We at Akasa cannot thank Mr. Jhunjhunwala enough for believing in us and putting his faith in us and trusting us to build a world-class airline. Mr. Jhunjhunwala had an invincible spirit, was deeply passionate about all things Indian and cared deeply about the welfare of our employees and customers. Akasa Air will honor Mr. Jhunjhunwala’s legacy, values and trust in striving to lead a great airline.
The veteran stock market investor, often referred to as the Indian Warren Buffett, died on Sunday morning. He was 62 years old. Often referred to as the “Indian Warren Buffett” and the big bull of Indian markets, Jhunjhunwala’s net worth stood at $5.8 billion.
Its portfolio includes companies like Star Health, Titan, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies, Tata Motors.
In total, he held a stake in 47 companies at the end of the June quarter. Titan, Star Health, Tata Motors and Metro Brands were among its largest holdings.
Born on July 5, 1960 to a Rajasthani family, Jhunjhunwala grew up in Bombay, where his father worked as an income tax commissioner. He graduated from Sydenham College and later enrolled in the Institute of Chartered Accountants of India.
Also read: Death of Rakesh Jhunjhunwala: Investor-held portfolio of 32 shares worth Rs 30,000 crore
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