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IATA: Air India privatisation ‘difficult’ in current climate
Airline industry group IATA says Air India’s planned privatisation could suffer due to the global coronavirus outbreak.
A good deal for the government could be ‘quite difficult at this moment’ IATA says.
"Privatisation of Air India is a necessary step for the long-term for the Indian market. Clearly, the international market for Indian carriers is going to be a lot weaker and inbound tourist traffic is going to be hit very hard by the effect of the coronavirus crisis," IATA chief economist Brian Pearce told Press Trust of India.
Pearce says an Air India sell-off is the right move for the Indian airline market but there could be further consolidation anyway due to the thin margins most carriers operate at.
A prolonged coronavirus crisis could see casualties in the market.
The Indian government plans to sell 100% of the flag carrier and this week eased rules to allow non-resident Indians to own up to 100% stake.
IATA reckons the global airline industry could lose up to USD 113 billion in revenue this year due to the coronavirus impact.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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