Anand Mahindra has again been asked to buy the airline. And, the billionaire businessman has said that he is in no mood to buy it. It all started when Mahindra was reminded that it did not have an airline. “No. Nor do I have any intention of buying or making one. Can you guess why? (No. Nor do I have any intention of making or buying one. Can you guess why?” responded to.
Now, if you are one of those who are speculating the reasons behind Manindra’s decision not to buy the airline, here’s a hint. In 2019, when Jet Airways shut down and was looking for investors, a Twitter user suggested Mahindra to buy the airline and name it Mahindra Airways.
The Mahindra Group chairman quickly replied: “Remember the quote: “If you want to be a millionaire, start with a billion dollars and then start (buy) an airline!” Business out of an airline and, there is factual evidence behind his comment.
As of FY2020, among Indian domestic private airlines, IndiGo is the most profitable airline by a wide margin 16.26 billion. The only other profitable airline was Blue Dart, a cargo airline based out of Chennai International Airport. 0.96 billion. According to Statista, every other airline on the list is loss-making, Vistara suffering 15.63 billion.
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