The co-founder of new Indian low-cost airline Akasa Air, billionaire Rakesh Jhunjhunwala, has died at the age of 62.  

Akasa Air, which has ordered 72 Boeing 737 MAX aircraft in order to connect tier 2 and 3 cities in India, launched just one week ago, on August 7, 2022.   

The inaugural flight of the new Indian low-cost carrier Akasa Air took place on August 7, 2022, between Mumbai and Ahmedabad.

Investor Jhunjhunwala, who died on August 14, 2022, was India’s 36th richest man according to Forbes and often referred to as the Warren Buffet of India.  

“We at Akasa cannot thank Mr Jhunjhunwala enough for being an early believer in us and putting his trust and faith in us to build a world-class airline,” the airline said in a statement on August 14, 2022.  “Akasa Air will honour Mr Jhunjhunwala’s legacy, values and belief in us by striving to run a great airline.” 

Rival carrier Air India also sent condolences to the investor’s family, describing the news of his death as shocking.