Thursday, July 15, 2021

Tatas intensify Air India due diligence

Conglomerate Tata Group which is being seen as the front runner in acquisition of Air India has intensified its due diligence process.

According to highly placed sources, teams comprising of Tata group companies' officials have been visiting Air India sites lately.

"They are trying to get an hands-on experience and feel of the airline. Besides, they are keenly focusing on the HR side of the operations," sources told IANS in New Delhi.

Generally, team comprising of Tata Group firms' AirAsia India, TCS and others visit the operational and administrative sites of the national carrier.

The development assumes significance since the submission of financial bids is due in September.

On its part, the national carrier has set up a 'Divestment Cell' to facilitate co-ordination between the Tata and Air India teams.

Air India is said to be providing full support to these teams and facilitating their visits to the operational sites.

Furthermore, the Tata teams have been given access to the airline's operational areas such as ticketing, check-in-counters.

15/07/21 IANS/Economic Times

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