Rakesh Jhunjhunwala-backed Akasa Air on Sunday issued a statement after the death of the veteran investor. It said, "We are deeply saddened by the untimely demise of Mr Jhunjhunwala…We cannot thank [him] enough for...putting his trust...in us to build a world-class airline. [He] had an invincible spirit...Akasa Air will honour [his] legacy, values and belief in us".