Challenging times: A general view of an illuminated Tata Steel plant in Jamshedpur in India. For the US$113bil Tata Group, which has a hand in multiple industries, running an airline in the current scenario is proving to be difficult. — AFP
MUMBAI: Ratan Tata is no stranger to flying. As a 17-year-old, the patriarch of India’s biggest conglomerate once landed a plane that had lost its sole engine mid-flight. He’s also piloted the supersonic F-16 fighter jet.
That love of aviation hasn’t always translated into business success, however. Tata Group’s two airlines – AirAsia India and Vistara – were struggling before the coronavirus pandemic. Covid-19 has put the sprawling Tata Sons Ltd, which owns a 51% stake in each, at a crossroads.
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