After losing 18 kg, the Big Bull is ready to fly, scoffs at the skeptics

Rakesh Jhunjhunwala, rakesh jhunjhunwala net worth, skepticism, Warren Buffett, investor, airline business

MUMBAI: One of India’s richest investors, Rakesh Jhunjhunwala, on Friday acknowledged that there is a lot of skepticism for his latest entrepreneurial venture, Akasa Airline, but he is hopeful.

“I see a lot of skepticism for the airline, but I am hopeful about it,” he told India Today in an interview.

Jhunjhunwala, who is referred to as the Warren Buffett of India, has invested Rs 260 crore in a new budget airline venture piloted by aviation veteran Vinay Dube. The airline is expected to launch operation soon. Dube told Times of India that SNV Aviation, the holding company of Akasa Airline, is awaiting a no objection certificate from the aviation ministry.

The veteran investor’s investment in the airline business comes at a time when the civil aviation sector is facing its biggest crisis because of the Covid-19 pandemic. Domestic travel restrictions due to the pandemic and halt to international commercial flights have haunted the sector.

Jhunjhunwala’s investment has drawn support from the investment community, but has largely been met with skepticism given the difficulties involved with running an airline in India. Prior to the pandemic, Jet Airways, one of India’s oldest airlines, was grounded due to bankruptcy.

The sector has been constantly marred by price wars and heavy costs, which make cash generation a challenge.

In the interview, Jhunjhunwala also opened up about his troubles in the past few years for the first time. The ace investor said he has lost 18 kg weight and become non-diabetic after being bed-ridden for 18 months and suffering through a bout of Covid-19.

“I am not even thinking of retiring from trading or investing,” he said.

Jhunjhunwala has seen his wealth soar over the past 18 months aided by the ongoing bull market and an early entry into current market favourites such as metal companies, state-owned banks, Tata Motors and gaming company Nazara Technologies.

While the trader-turned-investor did not reveal his thinking behind his latest investment in Zee Entertainment Enterprises, he said he was “bullish” on the company. He also believes Tata Motors will emerge as the leader in India’s electric vehicle market ahead of foreign giants like Tesla.

Internet Explorer Channel Network
News Related

OTHER NEWS

Walmart Announced Stores Will Be Closed For Thanksgiving Again This Year

© VIEW press – Getty Images Walmart has announced that stores nationwide will remain closed on Thanksgiving Day for the second year in a row. The move was made as ... Read more »

The best city building games to rule the urban jungle

The best city building games give you power. Like, a lot of power. All the power, sometimes. And, depending on your own sensibilities, sometimes too much power. Which is to ... Read more »

The next vaccine exemption debate: 'My child, my choice'

The options for Americans who refuse to get vaccinated are rapidly shrinking. President Biden’s blanket COVID-19 vaccine mandate for federal workers or contractors and companies with over 100 employees means ... Read more »

The 5 Most Important Revelations From the 'Facebook Papers'

A more complete portrait of how Facebook was vividly aware of its harmful effects came to light Monday, both at Frances Haugen’s testimony in front of the British Parliament and ... Read more »

John Barilaro tells Icac decision to grant $5.5m to Wagga shooting club ‘highly unusual'

Photograph: Joel Carrett/AAP Former deputy premier of New South Wales, John Barilaro, has described the decision to approve funding for a $5.5m shooting range and conference centre in Wagga Wagga ... Read more »

B0i's VALORANT settings, keybinds, and crosshair

© Provided by Dot Esports Aaron “B0i” Thao is an Astra and Viper player who was recently moved from 100 Thieves’ bench to its active VALORANT roster. While the 24-year-old ... Read more »

63-year-old fishing with wife dies after they're thrown overboard, Michigan cops say

A man fishing with his wife Saturday in a Michigan lake drowned after they both were tossed from the boat, authorities say. Deputies in Leelanau County were dispatched to Little ... Read more »

Boo! 6 scary weather photos to get you ready for Halloween

This year has been full of frightening weather events. From major hurricanes, bomb cyclones, blizzards and even extreme drought, the weather has been sinister throughout the past year. Of course, ... Read more »

Met Police to apologise to family of murdered sisters for investigation which ‘fell short'

© Independent Breaking News The Met Police will issue an apology to a family of Nicole Smallman and Bibaa Henry for the way it responded when the sisters were reported ... Read more »

Expo 2020 brought positivity and new events to UAE, experts say

© Provided by Khaleej Times Expo 2020 brought positivity and new events to UAE, experts say The Expo 2020 Dubai has brought a lot of positivity and the MICE (meetings, ... Read more »

Expo 2020 Dubai: Sheikh Mohammed visits Palestine Pavilion

© Provided by Khaleej Times Expo 2020 Dubai: Sheikh Mohammed visits Palestine Pavilion His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler ... Read more »

Four biggest wins at the T20 World Cup

© Aamir QURESHI Scotland’s Mark Watt (R) was one of five batters to fall to the spin of Mujeeb Ur Rahman Afghanistan thrashed Scotland by 130 runs in a Super ... Read more »

Here's why Paul McCartney has stopped signing autographs

© Provided by Pinkvilla   Paul McCartney has stopped signing autographs, calling the practice “a bit strange”. In an interview with Reader’s Digest, the Beatles icon recounted being approached by ... Read more »

PICS: Salman Khan, Iulia Vantur, Isabelle Kaif, Sangeeta Bijlani & others grace Aayush Sharma's birthday bash

It’s time for Bollywood actor and Salman Khan’s brother-in-law, Aayush Sharma to get into full celebratory mood. While the trailer of his upcoming action drama, Antim: The Final Truth just ... Read more »

Rekiat Okpe's salon in Killarney caters for all your needs

© Vutivi/Supplied. Rekiat Okpe and her employees. Author: Tebogo Mokwena Read more small business good news on Vutivi Business News. Everything that Rekiat Okpe does sets her apart from those ... Read more »

Avbob announces R10 million disaster relief fund for small businesses

© Avbob. FILE: Author: Tebogo Mokwena Read more small business good news on Vutivi Business News. Funeral company Avbob has joined the list of big businesses that have pledged to ... Read more »

Makers of ‘Sita The Incarnation' congratulate Kangana Ranaut on winning her 4th National Film Award

One of the most prolific actresses currently working in Hindi cinema, Kangana Ranaut won her fourth National Film Award for Manikarnika in the 67th National Film Awards. Kangana took to ... Read more »

Watch Live: Convicted Murderer on Trial for Killing Police Officer

For prosecutors, this is their second chance to seek death against a man already convicted of murdering his girlfriend. Markeith Demangzlo Loyd, 46, will die in prison for killing pregnant ex-girlfriend Sade ... Read more »

A immunocompromised high schooler spoke in favor of mask mandates at a school board meeting. Parents in the audience booed and mocked them.

© Provided by INSIDER Podium Reza Estakhrian/Getty Images An immunocompromised high school student was heckled at a school board meeting in California. Rami Zwebti was defending mask mandates at the ... Read more »

Biden boosts his spending bills and Gov. Phil Murphy in New Jersey

President Joe Biden was introduced as the “transportation president” during a Monday afternoon stop in Kearny, New Jersey, that was designed to advance the “Build Back Better” plan and the ... Read more »

Ex-University of St. Thomas football player guilty of raping fellow student in dorm

A onetime University of St. Thomas football player has been convicted of raping a fellow student in a dorm room more than three years ago. Nicholas R. Schnack, 22, of ... Read more »

Crush vehicles of puppy smugglers at dock to act as deterrent, MPs told

Vehicles belonging to puppy smugglers should be crushed at the Port of Dover to deter others from committing the same crime, ministers have been told. The Animal Welfare (Kept Animals) ... Read more »

Georgia shipwreck's last giant chunk removed from water

FILE – In this Sept. 9, 2019, file photo, a Moran tugboat nears the stern of the capsizing cargo ship Golden Ray as rescuers can be seen near the bottom ... Read more »

'This is utterly disgraceful', 'End this madness' - Many Spurs fans erupt over 'painful' stat

© Provided by This is Futbol Nuno Espirito Santo Lots of Tottenham Hotspur fans have flocked to Twitter to share their anger at a stat to emerge following their latest ... Read more »

'Wonderful', 'Immense' - Many West Ham fans delighted with one man's 'class' from Spurs clash

© Provided by Transfer Tavern Ben Johnson with David Moyes A number of West Ham fans have been showering Ben Johnson with praise after his performance against Tottenham Hotspur on ... Read more »

‘New normal': Venezuela reopens schools after COVID-19 closures

© Provided by Al Jazeera More than 11 million students returned to class in Venezuela on Monday following an extended closure due to COVID-19 [File: Ariana Cubillos/AP] Millions of students ... Read more »

Cuba-U.S. tensions mount over pending protests on Communist-run island

© Reuters/ALEXANDRE MENEGHINI FILE PHOTO: Protest against the trade embargo on Cuba by the U.S. in Havana, Cuba HAVANA (Reuters) – Cuban President Miguel Diaz-Canel warned the U.S. embassy in ... Read more »

Facebook will fuel more unrest, whistle-blower tells UK lawmakers

© Provided by Al Jazeera Former Facebook employee Frances Haugen gives evidence to the Joint Committee on the Draft Online Safety Bill of the United Kingdom’s Parliament, which is examining ... Read more »

Gove compares 2016 leadership bid sabotage to an ‘unexploded bomb going off'

Michael Gove has likened his 2016 sabotage of Boris Johnson’s Tory leadership bid to an “unexploded bomb going off in my own hands”. The Communities Secretary caused surprise in the ... Read more »

Radio 1 DJ Scott Mills engaged to boyfriend of four years after romantic proposal

RADIO 1 star Scott Mills has announced his engagement to boyfriend Sam Vaughan. Scott has been dating Sam for four years and surprised him with a romantic proposal on the ... Read more »

How to Score This Season's Hottest Gaming Consoles

Advertising Disclosure: This article is sponsored by one or more of the featured brands. © Provided by Slickdeals Though we’re still in October, the gifting season will be here before ... Read more »

Anton Du Beke to replace Bruno Tonioli on Strictly Christmas special — and could take over from him permanently

BRUNO Tonioli fans fear he won’t be back on Strictly any time soon — after Anton Du Beke stepped smoothly into his shoes. The flamboyant Italian, 66, will not return ... Read more »

Giants co-owner John Mara voices support for head coach Joe Judge

It’s been yet another rough season for the New York Giants and head coach Joe Judge, all of whom recently heard boos from home fans. Three was a bright spot, ... Read more »

Teen gets revenge on adults who shamed her Princess Di homecoming look

The outfit was reminiscent of the Princess of Wales’ 1994 black “Revenge Dress.” Left: Courtesy of @mgracebrumfie Princess Diana would not approve. A high school student claimed she was shamed ... Read more »

NHL Power Rankings: Panthers pounce on top spot behind play of Sergei Bobrovsky between pipes

The first two weeks of the NHL season can be a dangerous time for anyone trying to project what will happen the rest of the season. Not every team’s start ... Read more »

Billionaire tax takes shape as Biden pushes for budget deal

1 / 4Congress Biden ManchinSen. Joe Manchin, D-W.Va., a key holdout vote on President Joe Biden’s domestic agenda, chairs a hearing of the Senate Energy and Natural Resources Committee, at ... Read more »

Greta Thunberg invites striking workers to join her at Glasgow protest

Greta Thunberg has invited Glasgow workers who plan on striking during Cop26 to join her in a protest march through the city. The Swedish activist wrote on Twitter that she ... Read more »

Mark Wright's sister Natalya stuns in a thong bikini on holiday in ‘favourite place' Dubai

NATALYA Wright stunned in a coffee coloured bikini which showcased her phenomenal figure on the beach in Dubai. The 21-year-old looked sensational in a bandeau top and matching high waisted bottoms. ... Read more »

Two men charged with murder of ‘amazing father'

Two men have been charged with the murder of an “amazing father with a heart of gold” who died after being stabbed outside a Royal British Legion. Fisherman Max Maguire ... Read more »

Met to apologise to the family of murdered sisters

The Metropolitan Police will apologise to the family of two murdered sisters for the way it responded when they were reported missing in north London. Nicole Smallman and Bibaa Henry ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic