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.
Since Air India went public with the government having almost a 50 percent stake in it, the airline has recorded many successes as well as failures.
Interups Inc., a little know American company, has emerged as a serious contender for acquiring India’s national carrier.
Amid the aviation industry’s worst crisis, Indian conglomerate Adani Enterprises Ltd. is finding one opportunity after another to expand its foray into the aviation industry. As widely reported recently, the Adani Group is looking to acquire a controlling 74% stake in the International Airport of India’s economic hub Mumbai. While the Indian aviation sector might be comatose amid the pandemic restrictions, the country is still the fastest-growing aviation market globally.
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.
The only consolation, perhaps, for Naresh Goyal – the airline’s affable founder – is that Jet Airways died a natural death (due to market forces); unlike the mass extinction, precipitated by the ongoing COVID-19 crisis, that awaits the airline industry at large.
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?
That saying, “for when you gaze long into the abyss, the abyss gazes back into you,” is true. Kunal Kamra and Arnab Goswani’s recent controversy is a testament to Friedrich Nietzsche’s statement. On Tuesday, Kamra was in the same Indigo…
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.
The BJP government is gearing up for a second attempt to sell India’s national carrier Air India and Mukesh Ambani-led Reliance Industries is quickly emerging as the front runner among investors.