The Hindu Business Line : 7 parties to make presentations on AI, IA merger

, Ernst & Young, PricewaterhouseCoopers, JM Morgan Stanley and BOB Capital Markets are among the seven parties and consortia that would make presentations before the Air India Board later this month for being appointed as a consultant to draw up a road map for the merger of Indian Airlines and Air India.

This was decided by the Air India Board sub-committee that met in Mumbai on Friday to review the Expression of Interest received from various parties for appointment as a consultant.

"The seven parties that responded to the EoI will now be asked to make presentations in Delhi on June 26 and June 27. The final selection would be done on the basis of the financial bids submitted and the entire process should be completed by the first week of July," said a senior AI official.

Consortium members

The seven parties or consortia that responded to the EoI floated by AI are Accenture with Ambit Corporate Finance, BOB Capital Markets with Airline Capital Associates, Karnik & Associations, Anmol Sekhri & Associates, and Ernst & Young with IDBI Bank, Lufthansa Consulting and Luthra & Luthra.

Besides, ICICI Securities has tied up with Deloitte Touche Tohmatsu, NM Rothschild & Sons, Centre for Asia Pacific Aviation and MV Kini & Co. while JM Morgan Stanley has tied up with AT Kearne and Amarchand Mangaldas and SBI Capital Markets has an agreement with Simat, Hilliesen & Eichner, Trilegal and Lodha & Co. In addition, PricewaterhouseCoopers has also shown an interest in being appointed as an advisor.

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