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.
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.
In another attempt to sweeten the deal for buyers interested in Air India, the government has amended the FDI policy on investment in the flag carrier.
While the government has made various concessions for buyers interested in Air India, analysts still remain sceptical on the sale of India’s flag carrier, given the many riders that come with it.
