Tata group to take over ₹15,300 crore debt, Centre expected to write off around ₹28,000 crore; will provide a very strong market opportunity to Tatas' presence in aviation, says Ratan Tata.
While speaking at a virtual panel discussion, ace investor Rakesh Jhunjhunwala said he "loves it" when people say “you want to be a millionaire and that’s why are investing in an airline.” Read on.
The Tata group has a history of grit and is no stranger to big-ticket acquisitions. But its bid for loss-making airline Air India could be its litmus test.
India’s air bubble agreement with the U.S. has given a fillip to 16-hour non-stop flights between the two nations. Air India has taken a lead, but questions remain about its continuity.
Even as the Tata group doubles down on its aviation bets, IndiGo is also preparing ground for its next stage of growth. It’s on a mission to build the best airline system for India, says its CEO.
International flights between India and the U.K. had been on the rise thanks to an air bubble agreement between the two countries. Now, all bets are off.
The Tata group has evinced interest in buying Air India, even as it already owns loss-making airlines AirAsia India and Vistara. Despite its deep pockets, turning around Air India may not come easy.
While Jet Airways has found investors in UK-based Kalrock Capital, and UAE-based entrepreneur Murari Lal Jalan, the impact of Covid-19 on the aviation industry could derail its second take-off.
