'I don't possess 'THAT' courage to take on AirIndia', says Anand Mahindra

Air India's consolidated debt has risen to around Rs 50,000 crore, even as the merger between the Air India and Indian Airlines approved in 2007 did not lead to the desired benefits.

Indian billionaire Anand Mahindra said he was not brave enough to take on debt-laden Air India after the Union Cabinet gave in-principle approval for disinvestment of Air India, reports AFP.

Air India's consolidated debt has risen to around Rs 50,000 crore, even as the merger between the Air India and Indian Airlines approved in 2007 did not lead to the desired benefits.

A Twitterati asked Mahindra whether he will invest in Air India or will they bring new airlines in the Indian market? In reply, Mahindra tweeted: I see myself as a generally courageous person...But I confess.I don't possess THAT much courage...

Air India has the largest domestic and long-haul fleet of 140 planes in the country and flies to nearly 41 international and 72 domestic destinations. Finance Minister Arun Jaitley is to head a committee to decide the size of the stake to be sold and how Air India's assets and debts will be handled.

(With agency inputs)