PINNACLE Air Bids for retail travel business of Future Retail
New Delhi (India), May 23: Pinnacle Air has emerged as the sole bidder for the Travel retail business of Future Retail Group, which is operating 85 stores under the WHSMITH brand. They are only the sole bidders who have submitted bids to revive the business as opposed to liquidation plans offered by the other five […]
New Delhi (India), May 23: Pinnacle Air has emerged as the sole bidder for the Travel retail business of Future Retail Group, which is operating 85 stores under the WHSMITH brand. They are only the sole bidders who have submitted bids to revive the business as opposed to liquidation plans offered by the other five bidders.
As per close industry sources, Capt. Saraf, an industry veteran, and his team are looking to take over the company, which will not only revive the company but also save 707 jobs at stake.
The Pinnacle Air team brings extensive experience in the aviation business. His business interests span running Non-Schedule Airline, Aircraft Leasing, MRO and Airport Lounge Operations.
Other bidders, excluding Space Mantra like Palgun Tech, Lehar Solutions, Sarvbishtha E-Waste Mgmt, and Goodwill Furniture, have all submitted plans to sell the company piecemeal.
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