Business Tycon Anand Mahindra says 'Only The brave will take on Air India'

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Air India, known as the "Maharaja of the Skies" for its turbaned mascot, is reeling under ₹ 52,000 crores in debt which clouded the government announcement of the selloff late Wednesday.

It is unclear if the government will write off any part of the debt, But there appeared little enthusiasm among potential buyers as markets opened Thursday.

Industrialist Anand Mahindra said he was not brave enough to take on debt-laden Air India after the government said it would privatise the ailing national carrier.

The head of Mahindra group conglomerate, who is known for risky acquisitions, made it clear that he was not in contention.

Once the country's monopoly airline, Air India has lost market share to new low-cost private carriers.

Sunil Mittal, chairman of Bharti Enterprises, another major conglomerate , recently suggested that Bombay House, Tata's headquarters, would be the ideal rehab for the ailing carrier.

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