Bankers expect AI turnaround plan in next three months

MUMBAI, Apr 8 (livemint): The lenders of Air India (AI) Friday said they expect a final blueprint of the turnaround strategy for the ailing national carrier within the next three months. Speaking to newsmen after a meeting with the Air India management, led by chairman and managing director Arvind Jadhav, at the airline headquarters in Mumbai this morning, they said SBI Caps, which was mandated last year by a consortium of nearly 10 lenders to thrash out a turnaround strategy for the airline, made a presentation to them. "It was the first meeting that all the lenders had with the AI management. SBI Caps and Deloitte made a presentation to us. We have to get back to them with our views. Hopefully we will have the second meeting in 10 days," Bank of Baroda general manager Arun Tiwari said. On whether they are happy with the presentation made by SBI Caps and Deloitte, Bank of Baroda general manager for wholesale banking N Ramani answered in the affirmative and added that "almost 90 per cent of the proposals are fine with us and we are keen that the airline in back to good health."