What could work and what needn't for Rakesh Jhunjhunwala's airline venture

Akasa Air, funded by Rakesh Jhunjhunwala, has received a critical no-objection certificate (NoC) from the civil aviation ministry. He intends to establish a new airline in India in the hopes of increasing the number of people who travel by air. The airline plans to begin service next summer.

Rakesh Jhunjhunwala, often known as India's Warren Buffet, has invested Rs 247.50 crore in Akasa Air, an ultra low-cost carrier. Jhunjhunwala has a net worth of $4.6 billion, according to Forbes.

Madhav Bhatkuly, the founder of investment fund New Horizon, is another significant name on Dalal Street who has invested roughly Rs six crore in the company. Bhatkuly is well-known.

The following senior executives are on the board of directors:

Vinay Dube, the CEO, is a promoter.

Praveen Iyer has been promoted to the position of Chief Commercial Officer. Iyer is a founding member of the team and a former Jet Airways colleague of Dubey's.

Neelu Khatri, the new head of corporate affairs, was previously the president of Honeywell Business in India.

Srinivasan, Anand (chief information officer). Srinivasan formerly worked for Go Air, where he was in charge of revenue management.

Bhavin Joshi has been appointed to the position of senior vice president of finance and aircraft leasing.

Ankur Goel, the previous head of IndiGo's treasury and investor relations, has been hired as the company's chief financial officer. Goel was a key member of the team that oversaw IndiGo's initial public offering in 2012.