Akasa Air said that it will honour the veteran investor's legacy and values
Ace stock market investor Rakesh Jhunjhunwala, who was also the co-founder of Akasa Air - India's newest airline - which took to the skies last week, died this morning at a Mumbai hospital following a cardiac arrest.
In a statement, Akasa Air condoled Rakesh Jhunjhunwala's death and said that he "cared greatly" for the well-being of its employees and customers.
It also said that Akasa Air will honour the veteran investor's legacy and values by striving to run a great airline
"We are deeply saddened by the untimely demise of Mr Rakesh Jhunjhunwala this morning. Our thoughts and prayers are with Mr. Jhunjhunwala's family and friends. May his soul rest in peace," the airline said in a tweet.
"We at Akasa cannot thank Rakesh Jhunjhunwala enough for being an early believer in us and putting his trust and faith in us to build a world-class airline. Jhunjhunwala had an invincible spirit, was deeply passionate about everything Indian and cared greatly for the well-being of our employees and customers. Akasa Air will honour his legacy, values and belief in us by striving to run a great airline," the tweet added.
Earlier, Union Minister for Civil Aviation Jyotiraditya Scindia said that Jhunjhunwala will be remembered for giving India its new airline Akasa Air after more than a decade.
"Shri Rakesh Jhunjhunwala Ji was not only an astute businessman, but also passionately invested in India's growth story." He will be remembered for giving India its new airline Akasa Air after more than a decade. My deepest condolences to his family and loved ones," he tweeted.
Rakesh Jhunjhunwala was rushed to the Breach Candy Hospital in Mumbai at around 6.45 am after he suffered a cardiac arrest. He was declared dead on arrival by the hospital authorities.
Jhunjhunwala was suffering from multiple health issues and was discharged from the same hospital a few weeks ago after being treated for kidney-related issues.