Mumbai: Deloitte has begun due diligence on the proposed bid for Air India by the Tata
Group's airline company Vistara, a group official told ET.
Bids for the debt-laden national carrier are scheduled to close on March 17, with a section of the industry believing that New Delhi would extend the deadline. “Air India and Vistara are a good fit. Vistara may be a small airline in size, but you have to look at the considerable might and capabilities of its parents - the Tata Group and Singapore Airlines,” said a consultant who is helping the government on the proposed transaction.
Tata Sons and Vistara declined to comment.
Deloitte executives are expected to detail the pros and cons of buying the airline and submit their recommendations to the Vistara board. “There are several details to be ironed out even as the diligence is on, such as the ongoing discussions with Tony Fernandes,” an official said.
Fernandes has stepped aside as the CEO of the AirAsia Group, pending the outcome of an ongoing bribery probe.
04/03/20 Kala Vijayaraghavan/Anirban Chowdhury/Economic Times
To Read the News in full at Source, Click the Headline
Bids for the debt-laden national carrier are scheduled to close on March 17, with a section of the industry believing that New Delhi would extend the deadline. “Air India and Vistara are a good fit. Vistara may be a small airline in size, but you have to look at the considerable might and capabilities of its parents - the Tata Group and Singapore Airlines,” said a consultant who is helping the government on the proposed transaction.
Tata Sons and Vistara declined to comment.
Deloitte executives are expected to detail the pros and cons of buying the airline and submit their recommendations to the Vistara board. “There are several details to be ironed out even as the diligence is on, such as the ongoing discussions with Tony Fernandes,” an official said.
Fernandes has stepped aside as the CEO of the AirAsia Group, pending the outcome of an ongoing bribery probe.
04/03/20 Kala Vijayaraghavan/Anirban Chowdhury/Economic Times
0 comments:
Post a Comment