“Airlines are very competitive and capital intensive and running one is difficult,” said Shriram Subramanian, founder of proxy advisory firm InGovern Research Services. “Tata Group invested in two with two different partners. It’s not clear what the group was trying to achieve.”
https://www.dailyexpress.com.my/news/162859/us-113b-tata-empire-faces-tough-decisions-over-airlines/