Deadly crash puts Air India's ambitious revival plan at risk

Tragedy causes reputation damage, may delay turnaround that began with Tata takeover

- Bloomberg

Air India Ltd.'s ambitious plans to transform itself from a stale, financially troubled carrier into a profitable world-class airline face their biggest test yet after the deadliest aviation accident in more than a decade.

India's flag carrier had long languished under government ownership, gaining a reputation among travelers for shabby in-flight services. But its 2022 takeover by Tata Group, which paid 180 billion rupees ($2.1 billion) to buy back the airline it founded in 1932, kickstarted a five-year reinvention aimed at returning Air India to its former glory.

After more than a decade of losses, the new owners had big aspirations, setting a target for Air India and its budget carrier Air India Express to break even operationally by the end of the financial year ending March 31, 2026, according to people familiar with the matter, who asked not to be identified because the information is private.