New Delhi: Chairman of auto major Bajaj Auto Rahul Bajaj today said that private sector cannot be bailed out. Speaking to NDTV at the India Economic Summit Mr Bajaj said, "I am proud private sector man and I don't see any logic of bailing out any private sector company either for sake of employees or customers."
Mr Bajaj's comments came in the backdrop of a potential bailout for troubled carrier Kingfisher Airlines.
The crisis-hit airline has grounded more than 160 flights over the last five days. It has lost over Rs. 1,000 crore in this financial year alone and bank loans worth Rs. 7,000 crore have hit the airline's performance hard.
"If Bajaj auto gets into a mess, would you bail me out," Mr Bajaj retorted, adding that, "If it’s a free market economy, those who die must die."
13/11/11 NDTV.com
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