And for a Friday of the week of failed disinvestment of Air-India, some musings….. some thoughts…..

My first recollection of Air India is my Father telling me of the First Domestic flight in India, of the then Tata Air Services. Tata Airlines started by JRD Tata was from Mumbai to Trivandrum much before I was even born. So efficiently was the Airline managed, that in the first year of Operation Tata Airlines flew 1,60,000 miles, carried 9.72 tonnes of mail between Karachi, Mumbai and Chennai and made a profit of 60,000 Rupees. Now Air India is loosing Rs 100 million (10 crores) every day.

With 118 Aircrafts, more than 20,000 Employees servicing 94 Destinations, subsidiaries like Air India Express, Alliance Air and Ground Engineering Services, how did this transformation of the Jewel in Tata’s Chest become a shameful National loss leader with debt of 50,000 crores and operating losses of 3600 crores last FY. Sad and shameful. But who is Responsinle ???? Anyone accountable ????

Air India with the Tatas was a pride of every Indian who travelled abroad. I recall after a six or ten days business trip in Europe and Far East, return flight to Mumbai….. the aroma of Indian food in the Flight, the service and the very sight of beautiful Air Hostesses in those lovely Sarees….. it was a great home coming. Air India was truly Indian.

This disinvestment process laid out by the Babus was designed to fail. With such a huge debt, large organised, militant and irresponsible Trade Unions, keeping 24{aff5a224634bf574f692c8c7d068a0713fecca4ea38a30d3005107227dbb12e7} shares in Govt control and hoping to pass on half of the debt….. no Investor would touch even with a Barge pole. Air India mismanagement is a classic example of Corruption, Greed, inefficiency and total lack of Accountability.

I can think of only one solution. Create a SPV of the brand Air-India, the 118 Aircrafts, incorporate the International and Domestic Landing Rights and handover back to the Tatas. Rest of current AirIndia refer to the Bankruptcy and Insolvency code. We will then help the process of a Developed India, the legal way, the ethical way, the SEEGOS way.