Air India, Indian merger by FY 06-07

The proposed merger of the state-owned carriers is expected to be completed in the current financial year.

The proposed merger of state-owned carriers Air-India and Indian is expected to be completed in the current financial year, Civil Aviation minister Praful Patel said on Monday.

HT Image

He told reporters here that the consultant appointed for this purpose had been asked to submit its report shortly.

In view of the changing dymanics, this merger had to be done. Accenture had been appointed as consultant for the merger process.

Patel said the proposed initial public offer (IPO) of Indian would be done after the merger.

Merril Lynch had been entrusted to carry out valuation for Air-India.