Air-India considers strategic alliance with JAT

Mumabi: Air-India is considering a strategic alliance with Serbia's state-owned carrier, Jugoslavenski Aerotransport (JAT), and may bid for a stake at a later stage, an official for the Indian airline said on Monday.
"We are conducting due diligence and the first step would be a strategic alliance," a spokesman for Air-India said.
"They are open to the idea of Air-India as a strategic partner, and we might then take an equity stake if we are able to agree on the valuation and sharing of profits," he said.
The two airlines had been in talks for several months, and the due diligence of the Serbian carrier was scheduled to be completed by the end of the month, the spokesman said.
"A joint venture or partnership will help us extend our footprint in Europe and we can consolidate routes in markets such as North America and Australia," the Air-India spokesman said.
04/06/07 Reuters/NDTV.com

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Categories: Air India Jun 2007, Foreign May 2007, New Jun 2007