New year could bring Air India and Jet Airways a new lease of life

© Denys Hedrovych

India’s beleagured international airlines could find some solace this year, following moves to renew both Air India and Jet Airways. 

The Indian government this morning opened the way for an investor to take on Air India after approving the draft for inviting bids for a stake in the national carrier. The government also approved the transfer of more of the carrier’s debt to a ’special purpose vehicle’, which now carries some $412m. 

Although it struggles with losses and consequent debt, government-owned Air India could prove attractive to ...