The government seems to be pondering a remedy to fix Air India that may well be called a leap of faith.
Good old experts
The government seems to be pondering a remedy to fix Air India that may well be called a leap of faith. The Centre is reportedly looking to set up a committee of primarily former CMDs of the national carrier and ex-secretaries of the civil aviation ministry for outlining a road map for turning around the carrier. The panel may come out with valuable suggestions, but given its proposed composition, it inspires little confidence. After all, it is the same people who have presided over Air India’s slide into a financial tailspin. Is civil aviation minister Pusapati Ashok Gajapati Raju really serious about remedying Air India’s ills?
While the crash in global oil prices may not be good news for oil major ONGC, it suits just fine its subsidiary OVL, which is hunting for assets abroad. The reason is, valuation of acreages moves up and down in tandem with crude prices. However, it is a million dollar question if the PSU will be able to cut deals and add to its portfolio. It is a god-send opportunity for OVL managing director Narendra K Verma to show that he can make hay while the sun shines.