- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Air India expected to unload 15 percent stake in IPO
State-owned Air India will likely unload 15 percent of its equity in an IPO when its merger with domestic counterpart Indian Airlines is completed.
Updated : Sep 15, 2017, 01:27 AM IST
TRENDING NOW
)
AR Rahman, Saira Banu's daughter Raheema opens up on parents' divorce being linked to Mohini Dey: 'Always remember...'
)
Riddhima Kapoor Sahni reveals Rishi Kapoor's last two wishes: 'He wanted to see Ranbir Kapoor getting...'
)
Sana Khan, former Bigg Boss contestant, actress announces 2nd pregnancy with Anas Saiyad: 'Only Allah has power to..'
)
'Good to be back': After breaking up with Malaika Arora, Arjun Kapoor reunites with his 'partner-in-crime after ages'
)
'Your dance lightens up...': Little girl's dance on 'Tere Bina na Guzara E' steals hearts online, WATCH viral video
)
Is Mia Khalifa dating ex-Man City star Julian Alvarez? Former adult star says 'It certainly...'
)
Meet Imsha Rehman, Pakistani TikTok star who deactivated her accounts after video leak and Minahil Malik's MMS
)
This Pakistani Influencer's private video leaked online, days after Minahil Malik and Insha Rehman's clips
)
32-year-old superstar forcibly kissed 15-year-old co-star; left her traumatised, crying; later laughed about it saying..
)
Amid Aishwarya Rai-Abhishek Bachchan divorce rumours, Jaya Bachchan says 'not my daughter' in viral video
)
Telecom rules to change from January 1, Mukesh Ambani's Jio, Airtel, Vi, BSNL will be affected due to...
)
Mukesh Ambani's SUPERHIT plan for Jio users, offers unlimited 5G access for 1 year for just Rs...
)
AR Rahman's bassist Mohini Dey reacts to her split linked with composer's divorce with Saira Banu: 'I know exactly..'
)
Gandii Baat, XXX actress Aabha Paul sets Instagram on fire with hot photos
)
Good news for Delhi-NCR residents, travel time from Noida to Gurugram to be reduced as new train service will...
NEW DELHI: State-owned Air India will likely unload 15 percent of its equity in an initial public offer (IPO) when its merger with domestic counterpart Indian Airlines is completed, a report said.
V Thulasidas, chairman of the National Aviation Company of India Ltd (NACIL), the airlines' new parent company, said the government would make the final decision on the size of the IPO.
But he told his 'personal view' was that NACIL would dispose of 15 percent of its equity.
The government has said it is merging the two airlines in a bid to create a "world-class airline" that can compete globally and domestically. Singapore Airlines and Emirates have already expanded into India's booming travel market.
The IPO would be staged once the merger of Air India and Indian Airlines was finished and both airlines' operations were fully integrated.
Air India is the nation's biggest international carrier and Indian Airlines is the second-largest domestic airline after privately run Jet Airlines.
Thulasidas gave no timeframe for the IPO, which he said would be aimed at making the new merged company "a more business-like entity." But he said before the IPO, employee stock options (ESOPs) would be offered to the staff and they would be announced shortly.
Air India was engaged in talks on forming an international alliance with Star Alliance as part of its global expansion, he said.
The merged airline will fly under the brand of Air India domestically and internationally with a combined fleet size of more than 112 aicraft -- comparable to the best airlines in the Asian region. Long derided for its old planes, the company is engaged in a massive fleet replacement programme.
It has already placed orders for 111 aircraft at a cost of 450 billion rupees (11.4 billion).
Forty-three are Airbuses and the rest are Boeings. Sixteen have been delivered and the rest are slated for delivery over the next three to three-and-half years.
Post merger, the two airlines will have 34,000 employees.
The government cleared the airlines' merger in August.
