Air India's finance woes continue to worsen as there is a demand to add more planes to its fleet where it would require around $740 mn to go ahead with the purchase. But recently outgoing NITI chief Arvind Panagariya said that it would be wise to write off some debt of the ailing airline, so that an investor could show interest in purchase.
Panagariya was confident of such a move especially when the finance committee is in favour of privatising the airline. Air India's scenario is a unique one. The airline is doing fairly well but still financially it is in rough waters. NITI chief also pointed out that there would be no need of asset stripping the airline.
Considering that fact that there Air India is not plagued with cases of salary backlogs, but being India's government airline there are several areas of considerable shortfall witnessed. With privatisation of the airline looking eminent, better days are on the cards for the player. With the desi ‘sarkari' airline feel eliminated, AI surely will need to look to ‘moving with the times' and will have to up its flying facilities to give the flyers a practically new experience.
