Why Buying Troubled Airlines is Aviation's Most Dangerous Gamble The aviation industry is littered with the wreckage of ambitious dreams—not just crashed planes, but crashed companies and the empires that dared to buy them. When the Tata Group acquired Air India in 2022, many celebrated it as a homecoming story. But scratch beneath the surface, and a troubling pattern emerges: Could Air India become the Tata Group's next "Nano moment"? The Graveyard of Aviation Dreams History doesn't just whisper—it screams warnings about buying distressed airlines. The Indian aviation sector is particularly brutal, with its maze of complex tax laws, regulatory hurdles, and cutthroat competition. Take Vijay Mallya's Kingfisher Airlines — Mallya launched Kingfisher Airlines in 2005 as a new, full-service carrier. He then later acquired the struggling low-cost carrier, Air Deccan, in 2007 and rebranded it as Kingfisher Red. What followed was one of India's most spectacular c...