The fight for Air India’s flight is getting steadier.
Recently, Government of India accepted Expressions of Interest for acquisition of the ailing national carrier from a number of bidders.
Although most of the bidders are being tight-lipped about it, some are making waves and generating sufficient interest in the bidding process.
From being the enviable air ambassador of India for over 6 decades, the national carrier has faced enormous difficulty in staying financially viable in recent decades.
Net debt stands at a staggering ₹58,255cr ($7.9bn). In spite of the government pumping more liquidity into the airline to maintain its solvency, it ultimately couldn’t stay its hand to try and divest upto 100% of its stake in the airline.
Will this tragic episode come to a satisfying end with some white knight stepping in to revive the lost glory of Air India through acquisition?
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