Jet Airways has announced the hiring of Piero Ceschia, a Senior Executive from Delta Airlines, who has earned a reputation for his expertise in merger and acquisitions, right before a potential run for Air India.
Ceschia previously served as Vice President for Strategic Alliances in Delta. He has also had senior finance and corporate strategy roles in Air France-KLM and Alitalia.
Ceschia’s expertise however, is largely in the areas of mergers and acquisitions, capital market transactions and restructuring of distressed assets, according to his extensive LinkedIn profile.
He has had his hands in fundraising, stake sale negotiations, airline partnerships and business reorganization in his previous campaigns at the two European airlines.
In related news, reports have indicated that Jet Airways, Air France-KLM and Delta will all bid for Air India.
A source also shared that there have been talks between Jet Airways and its partner airlines with regards to the bid for Air India. However, no decision has been settled on and there is no sure thing when it comes to the bid especially with their various priorities.
Air India’s sky-high debt and restricted scope of synergies is another key factor that will weigh heavily on whatever business decision that would be made.
Jet Airways, which is co-owned by Etihad Airways, had partnered with JP Morgan last year to raise funds for expansion and debt reduction. It also had exploratory talks with Delta for a stake sale as well.