Rakesh Jhunjhunwala reaches for the sky as partner in new airline venture
Jhunjhunwala, who has often taken big bets on local entrepreneurs, is mulling the proposal at a time India’s aviation industry is going through its one of its worst phases in recorded history.
Synopsis
Jhunjhunwala, who has a cult following among stock traders, has had preliminary talks for an investment of up to $35 million (₹260.7 crore) in the new airline, two persons close to him told ET.
Rakesh Jhunjhunwala, one of India’s largest individual investors known for his audacious bets, is understood to be exploring a plan to back a new, low-fare airline venture pursued by a team of senior aviation professionals.Jhunjhunwala, who has a cult following among stock traders, has had preliminary talks for an investment of up to $35 million (₹260.7 crore) in the new airline, two persons close to him told ET.According to sources in the
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