Friday, June 30, 2017

As Air India sale begins, Rakesh Jhunjhunwala quips: “I am also interested”

While big names have already started doing the rounds as potential buyers of the troubled national carrier Air India, with private airline IndiGo officially throwing its hat in the ring and the Tata Group too reportedly mulling acquiring it, billionaire investor ‘big bull’ Rakesh Jhunjhunwala sought to make it plain that it could be a good asset to buy for a company with an ability to turn it around. “Everyone is interested. I am also interested,” Rakesh Jhunjhunwala said in jest in an interview to ET Now on Friday, in response to a question about the potential buyer interest in the carrier.
Earlier this week, the Union Cabinet gave an in-principle approval for disinvestment of Air India, paving the way for privatisation of the beleaguered national carrier, which turned into a taxpayer money guzzling machine ridden with inefficiencies and mismanagement. Hours after, IndiGo, India’s largest airline by market share, formally expressed its interest in buying Air India, specifically, its international operations and low cost domestic business.
01/06/17 Financial Express