SBI Caps expects to close AI debt recast plan by Jan-end

Mumbai: SBI Caps expects to close the much-awaited debt restructuring plan of the loss-laden national carrier Air India later this month or early February.
"We are hopeful of closing this exercise by the end of January or early next month. We hope Deloitte will submit its report soon so that we can meet this deadline. We expect the Deloitte report shortly, "SBI Capital Markets Managing Director and Chief Executive S Vishvanathan told PTI.
Early December, the debt-ridden Air India had appointed global consultancy firm Deloitte to ratify a prospective financial restructuring plan for the company, which was prepared by SBI Caps, the capital markets arm of the State Bank Group, for a reported fee of Rs 25 lakh.
Though the foreign consultant was given one week to 10 days time to complete the exercise, according to a top Air India official, they are yet to get the vetted report.
15/01/11 PTI/Economic Times

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Categories: Air India Jan 2011