Apropos Arindam Majumder's well-analysed front page report (May 28), Air India seems to have become the butt of jokes internationally. No rational thinking suitor is likely to come forward for this seriously sick bride, notwithstanding the road shows mounted by EY or any other consultancy firm.
EY is frantically running around the world, simply because the government is picking up the tab; if their fees were purely success related, I doubt if they would even touch the assignment.
Two of the biggest negatives in the offer seem to be (a) the government's intention to retain 24 per cent equity and (b) the liability of existing staff for at least one year. If these two are removed and the government is ready to accept a reasonable price, there would be bidders. I am still hopeful that good sense would prevail — the government would take pragmatic decisions, alter the terms of reference, set its sight lower and extend the deadline will see enthusiastic response from the global profit making big players worldwide. Despite the fuel prices increase, everyone can see the exponential growth in passenger traffic for the airlines — specially in India.
Krishan Kalra Gurugram
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