Billionaire investor Rakesh Jhunjhunwala to invest in the airline sector
He would invest over Rs 260 crore for a 40% stake in a low-cost airline promoted by Vinay Dube
Vinay is the former chief executive officer of Jet Airways
Dube has arranged a team of senior executives in commercial, engineering and finance roles
Negotiations are also underway with both Airbus and Boeing
The proposed airline called ‘Akasa Air’ is supposed to start next summer
It intends to gather 70 aircraft in four years
