What Air India requires today is a good management team to handle affairs, as an autonomous corporate entity without any Govt interference
The problem with many is that they hardly understand what Dr.Swamy has to say. Air India is a sick & loss-making venture, as it’s core has been sucked out and it has been deliberately neglected to bring it to collapse. The additional benefits that come with an Air India sale are huge and many are interested in that.
Dr.Swamy looks at the national interest and not the personal benefit, whenever he weighs on any subject. He speaks out bluntly and calls a spade a spade.
Till now, he has been vindicated on moles and stooges in MoF, Raghuram Rajan the ex-RBI Governor, on GSTN, on ICICI Bank and many others.
What Air India requires today is a good management team to handle affairs, as an autonomous corporate entity without any Govt interference. Privatisation is a vested lobby game plan to grab the airlines.
Do we know the estimated worth of the brand name “Air India”?
Air India privatisation is a ploy to grab the airlines. The brand name worth is in billions of dollars, with the latest & youngest fleet of aircraft flying, real estate assets across the globe, established infrastructure & network, strategic alliances, hi-tech engineering maintenance facility, routes & sectors, rights across the globe, parking bay at airports and so on.
A request to PM Modi is that before selling off Air India, he should investigate the criminality, loot, deliberate malafide intention, compromise, scam and more, which has resulted in bringing the airlines to this pitiable condition
When certain airlines went public around 15 years ago, the brand name owned by the promoter was sold as his equity at a super premium of 1200 Crores. Then, what can be the value today?
In the same way, bankrupt airlines Kingfisher was negotiating to mortgage or pledge its brand name for US $1 billion in the international market before the promoter escaped to London.
With this, one can estimate the actual value of the brand name “Air India” could be.
During the UPA regime, aircraft were purchased at huge inflated cost and later sold to Middle East Airlines for 25% – 40% discount on the purchase cost!!! This was a huge scam which went unreported in all media. All parties concerned whether within or outside, benefitted. No one raised any objection, as all concerned received kickbacks from the deal.
Just because Air India is loss-making, does not mean that you sell it at the throwaway price. A proper valuation has to be done. Those audit firms and agencies selected to carry out the evaluation are themselves under the scanner and there are links with potential buyers waiting in the wings. How can it be a fair process?
My humble request to PM Modi is that before selling off Air India, he should investigate the criminality, loot, deliberate malafide intention, compromise, scam and more, which has resulted in bringing the airlines to this pitiable condition. The cartel behind this heinous crime should be exposed and punished.
Selling Air India is not the solution!!!
1. The views expressed here are those of the author and do not necessarily represent or reflect the views of PGurus.
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