Opinion | Why everyone loves an airline or two
In the US, a Mark Zuckerberg or Jeff Bezos no longer view an airline as the next big thing. In South Asia, it still seems to catch the fancy of even seasoned businessmen, as is evidenced by Tata’s reported interest in buying Jet Airways
Between an asphyxiating state behemoth and a set of private companies with increasingly stressed finances, India’s airline sector is once again looking down the barrel of a gun. Liquidity issues at SpiceJet Ltd have just led Crisil Ltd to downgrade the budget carrier’s long-term and short-term rating, while ICRA has downgraded Jet Airways (India) Ltd’s long-term borrowing programme from BB to B, which signifies a high risk of default on servicing financial obligations.
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