• search

AI-Indian merger plan moves a step ahead

Written by: Staff
|

New Delhi, May 10: The proposed merger of Air India (AI) and the Indian was put on the fast track today with the former inviting Expression of Interests (EoIs) for appointing a consultant.

The last date for submission of bids is May 31.

Last week, the AI board had agreed to appoint a consultant to prepare a roadmap for the merger of the two national carriers within 2006-07 without any hiccups.

Civil Aviation Minister Praful Patel recently said the proposed merger of two carriers is required to meet the challenges of the global aviation environment, which has witnessed a series of mergers and acquisitions including the Rs 2,300 crore deal by Jet Airways to acquire Air Sahara.

The consultant will provide the roadmap for the AI-Indian merger and also advise the government as to whether the valuation of initial public offer (IPO) will be better for a combined entity or not.

UNI

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more