Wednesday, September 23, 2020

Tata vs Mistry: Shapoorji Pallonji Group's comment on Tata's aviation business may have touched a nerve, but is it correct?

On September 22, when the Shapoorji Pallonji Group talked about separating from the Tatas, the statement mentioned the aviation business.

It said: "Be it the operations of Tata Steel UK, where over the last three years alone the operational losses have increased by an additional Rs 11,000 crore, or the group’s aviation businesses. These actions, or lack thereof, have meant that the total debt in the major Tata group companies has increased by approximately Rs 100,000 crore in the last three years. Excluding Tata Consultancy Services (TCS), the last quarters losses of all the listed group companies of approximately Rs 14,000 crore cause great concern."

The statement is right in pointing out the losses incurred by the Tata group's aviation business, which also includes Vistara, the joint venture with Singapore Airlines.

But is it a fair conclusion? >>

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