AI board sets merger plan with IA in motion

New Delhi: State-owned Air India on Thursday took the first step towards the proposed merger with Indian Airlines with its board granting a green signal to the appointment of an independent adviser for the exercise.
The airline will now invite tenders from firms specialising in such M&A activities to appoint the adviser.
Civil aviation minister Praful Patel had recently said government plans to merge the two airlines within the current fiscal. The merger, he had said, would create a global behemoth which would be among the top 20 airlines in world, without any job losses.
The adviser, is expected to be appointed by July this year, would assist in integration of two airlines.
Government has already decided to rationalise the international operations of the two carriers to ensure that they do not compete with each other on any overseas route.
05/05/06 Byas Anand/Times of India

To Read the News in full at Source, Click the Headline