Insight Bureau:  The Government of India has given a go ahead to billionaire investor Rakesh Jhunjhunwala backed startup Airline Akasa.

The Akasa Air plans to start operations by the summer of 2022 and is planning to have 70 airplanes in four years with an endeavour to be India’s most dependable, affordable and greenest airline.

Jhunjhunwala has invested Rs 247.5 crore in the airline.

The Civil Aviation Ministry has issued the no objection certificate (NOC) following which it will now apply for air operator permit from the Directorate General of Civil Aviation (DGCA).

Earlier, Prime Minister Narendra Modi met well-known stock market investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala last Tuesday.