Rakesh Jhunjhunwala's yet to be lauched airline Akasa Air said on Monday that it has received a 'no objection certificate' (NOC) from the Ministry of Civil Aviation.
The development assumes significance as Akasa Air plans to offer flights across India starting the summer of 2022.
According to Vinay Dube, CEO, Akasa Air: "We will continue to work with the regulatory authorities on all additional compliances required to successfully launch Akasa Air. At Akasa Air, we believe that having a robust air transportation system is critical for our nation's progress."
The proposed airline venture had applied for an NOC, AoP (air operator permit) and other permits from the Ministry of Civil Aviation.
Acquiring the NOC is the first stage, which is followed by a security background check after which an AoP is issued. Thereafter the technical viability of the airline receives a safety clearance.
The airline venture is partly funded by stock market maverick Rakesh Jhunjhunwala, while ex-Jet Airways CEO Vinay Dube will manage the airline.
Jhunjhunwala will be represented by ex-IndiGo boss Aditya Ghosh in the proposed airline's board.
The NOC will be held by SNV Aviation, the holding company of the airline.