Rakesh Jhunjhunwala was suffering from many diseases. According to reports, both of his kidneys had failed and he was undergoing continuous dialysis. When he was brought to Breach Candy Hospital this morning, he was declared brought dead.
Rakesh Jhunjhunwala, a veteran stock market investor and co-founder of Akasa Air, passed away on 14 August 2022. Akasa Air flew between Mumbai and Ahmedabad on 7 August 2022 on its inaugural day. It is being said that Jhunjhunwala’s death will not affect the business of the newly launched Akasa Air.
Rakesh Jhunjhunwala Death: Rakesh Jhunjhunwala said goodbye to the world at the age of just 62. When he was brought to Breach Candy Hospital in Mumbai this morning, the doctors declared him brought dead. His last rites will be performed at Banganga crematorium in Mumbai today at 5.30 pm.
He was suffering from various diseases. According to the reports, both his kidneys (Rakesh Jhunjhunwala Diesease) were damaged. He was on continuous dialysis. Apart from this, his sugar level was also very high.
Caption this 👇 pic.twitter.com/vMrqfEq9mk
— Srinivas BV (@srinivasiyc) October 5, 2021
It was in October 2021 when he went to meet PM Modi and that picture became very viral on social media. Actually in this picture he was seen sitting and PM Modi was standing. However, his wife Rekha Jhunjhunwala was also standing. This picture was shared by PM Modi himself.
Foot problem due to high sugar
Later Rakesh Jhunjhunwala also met Finance Minister Nirmala Sitharaman. In this photo, he is seen sitting on a wheel chair. A special shoe is also visible in his foot. At that time it was said that due to high sugar, his feet do not work properly. That is why when he had met with PM Modi, the Prime Minister had appealed to stay seated due to his health. He has also been seen sitting on a wheel chair in many other events.
Jhunjhunwala was the biggest investor in the Airline
Burgis Desai, a former managing partner at law firm J Sagar Associates and an investor in Akasa Air, told the Economic Times that the billionaire was not involved in the day-to-day operations of the airline.
He further added that the shareholder agreement has been structured in a manner that will ensure management by assets, and any commitments made, will be respected.
The late businessman was the biggest investor in the budget airline, in which his family held a 45 per cent stake through trusts in the names of his children Nishtha, Aryaman and Aryaveer.
“Today marks a significant milestone in Akasa Air’s journey as we successfully commence our commercial operations with our maiden flight from Mumbai to Ahmedabad."
– Vinay Dube, Founder and Chief Executive Officer, Akasa Air. Read More: https://t.co/xpTpKrjhqe#OurFirstAkasa pic.twitter.com/BeXXGKSfSA
— Akasa Air (@AkasaAir) August 7, 2022
In the program of Akasa Air also came on wheel chair
He was also seen sitting on a wheel chair in the launching program of Akasa airline. If you look at the picture, you will find that he is wearing a special type of shoe. As usual, wife Rekha Jhunjhunwala is seen standing behind him.
Airline needs to expand: Jhunjhunwala
The billionaire investor breathed his last on Sunday morning after battling several health complications over the past few years. Despite his ill-health, Jhunjhunwala was present for Akasa Air’s inaugural flight from Mumbai to Ahmedabad. He said the budget airline needs to expand operations.
Akasa Air launched its maiden flight on August 7 on the Mumbai-Ahmedabad route in the Indian civil aviation space with high growth potential and a closely monitored one. Vinay Dubey, CEO and investor, Akasa Air, had recently said in a statement that the airline will honor the legacy, values and beliefs of the veteran investor.