AI selects Booz, Rothschild for cost restructuring

Air India has selected global consultancy firms Booz Allen & Company and Rothschild to guide the national airline on its cost rationalisation and debt restructuring strategies.

“We have selected Booz & Allen and Rothschild to devise strategies on cost-rationalisation and debt-restructuring,” Air India sources told PTI here.

While Booz Allen is a leading strategy and technology consulting firm, Rothschild provides investment banking, corporate banking and private banking and trust services to governments, corporations and individuals globally.

Air India Chairman and Managing Director Arvind Jadhav is likely to hold a meeting with the senior management on the issue tomorrow.

The two global firms were selected through a bidding process in which other domestic and overseas firms such as Accenture, Ernst & Young and Ambit Finance Corp participated, the sources said.

Besides these, McKinsey, Deloitte and others firms gave their presentation on cost-rationalisation and debt-restructuring programmes to the Air India board, they said.