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Today, is one of the days in cricket that the batting gods have blessed the most entertaining batsmen in the world. When I woke up in the morning to check the score, Sehwag was already OUT but he had scored 219 runs. 219 runs!!!
Couple of decades back, if a team scored 200 runs in a one-day match it was considered to be a respectable total. To see a batsmen score it in one one-day innings is magnificent.
There is a famous quote by Richard Branson which goes like this:
“I’ve always said the easiest way to become a millionaire is to start out a billionaire then go into the airline business.”
Airlines are like bus companies, only difference is that the bus cost a ton of money (couple of hundred millions dollars). It is a very capital intensive industry and the recent high oil prices is pushing the industry to bankruptcy. In India, were the interest rates are high (10-14% for borrowing), it is difficult for airlines to operate given that the interest costs are very high.
I recently came across an article in Livemint about the restructuring AIR INDIA.
According to the latest plan submitted to the government, Air India is seeking total equity support of Rs. 42,920 crore till fiscal 2021. It also wants government guarantees for aircraft loans worth Rs. 30,584 crore till fiscal 2021. Air India’s board will meet Tuesday to decide the future course of action in the context of RBI’s approval and the lenders’ meet on Monday.
That is a total of Rs. 73,504 crores ($14.16 billions at currently market rate). The government of India is making a big mistake by still running Air India (they had their chance to sell to Tata/Singapore Airlines in 2001 and they missed the opportunity, a costly miss). I wish they spent this kind of money on education and poverty elimination.