The car-to-coffee conglomerate, Tata Group’s hopes for partnering up with Singapore Airlines (SIA) shattered when the latter decided against investing in the debt-laden national carrier, Air India.
Interups Inc., a little know American company, has emerged as a serious contender for acquiring India’s national carrier.
After the Indian Government failed to attract buyers in 2018 for India’s one of the most ambitious privatization plans, it came with new and much simpler terms in 2020 to sell the debt-ridden Air India.
With the future of the country’s national carrier already under threat, the recent COVID-19 Novel Coronavirus pandemic has made the situation for Air India even worse. Does this mean that the days for India’s ‘Maharaja of the Skies’ are now numbered?
Etihad’s investment cannot go beyond 49% and while Indigo can go for the complete 100%, its current financial state won’t allow. However, chances of an Indigo-Etihad JV buying out Air India cannot be dismissed.