Some of the world's leading airlines are investing to build a flight network to better connect India to the rest of the world. IndiGo, Delta Air Lines, Air France-KLM and Virgin Atlantic this week announced a partnership that aims to link the domestic and international travel markets within and outside of India.

The crash of Air India Flight 171 is a human tragedy first. The business impact will unfold over the coming days and weeks.

The impact wasn’t limited to airline operators. Shares of Tata Group companies — the conglomerate that owns Air India — also took a hit.

Air India announced a $400 million fleet upgradation programme, which lists a total of 198 aircraft as part of its fleet.

The U.S. Treasury held a closely eyed $22 billion auction of 30-year bonds, and solid demand showed investors are still hungry for long-term government debt, despite policy uncertainty.