Don’t Have Courage To Buy Air India – Anand Mahindra

Don’t Have Courage To Buy Air India – Anand Mahindra
Written by Shubham Jain

The Mahindra Group head, Anand Mahindra who is famous for risky acquisitions said that only the brave will take in Air India. While the Cabinet has approved a plan to privatise the debt-ridden national carrier Air India. Air India also known as “Maharaja Of Skies” is reeling under the debt of Rs. 52,000 crore.

“The cabinet today gave an in-principle approval to a proposal by the aviation ministry, which was to divest stake in Air India. The aviation ministry’s recommendation that a group be formed under the chairmanship of the finance minister has also been approved,” Finance Minister Arun Jaitley said on Wednesday evening after the cabinet meeting. “The group will discuss and decide on the modalities on debt, assets like hotel companies and all other assets of Air India.”

Media reports are that Tata Group could buy a stake in Air India, which it owned before the carrier was nationalised nearly 70 years ago. Tata has not made any comment in this issue.

While the chairmen of Bharti Enterprises, Sunil Mittal said that Tatas should be the better candidate if Air India had to be privatised on being asked that.

While the airlines warned its former emplyees to speak agaist it in media. “It is unacceptable that a person who is availing post-retirement facilities like passage, medical etc from Air India talks against the company. Retired personnel who make such negative comments with the intention of tarnishing the image of the company will themselves be responsible for cessation of their post-retirement facilities,” read an internal order with the approval of Chairman and Managing Director, Air India, Ashwani Lohani.

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Shubham Jain