The government plans to provide stock options to Air India staff after sale of its 76 per cent stake in the debt-laden airline, a senior official said. Besides, Air India would divest 100 per cent stake in Air India Express and 50 per cent shareholding in AISATS, an equal joint venture with Singapore-based SATS. This means such an airline will effectively hold 38.76% in Air India as the government will be retaining a 24% stake in the airline.
The 85-year-old Air India is also a flag carrier with strong global brand recognition and is "extremely well placed to tap the world's largest aviation market growing at 18 per cent plus rate", it says.
According to the bid document, the selected bidder would need to retain its stake in Air India and management control of the airline for at least three years.
Further, the new owners of Air India would immediately get a 12.2% domestic market share and a 10.37% share of India's worldwide air traffic market.
El AL claims that allowing Air India to fly in using that airspace when they can not violates the 1944 Convention on International Civil Aviation, as well as promises that the Israeli government made to ensure "sound and fair competition" when El Al was privatized by the Israeli government in 1994.
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While he's not particularly watching it closely for the moment, ANZ's Chinese desk is very focused on it, he said. To attract greater trade participation, Beijing plans to exempt foreign traders and organizations from income tax.
The Air India disinvestment transaction will involve Air India, its low-priced arm Air India Express and Air India SATS Airport Services Pvt Ltd.
"I'm sorry to read in the media about the government inviting expression of interest for selling Air India, the jewel of our nation".
Accordingly, one of the four entities will include Air India, its budget subsidiary Air India Express and gateway services and food solutions units AI-SATS. "The passengers were offloaded to carry out the security drills", Deputy Commissioner of Police Sanjay Bhatia said. However, if a domestic airline partners with others to form a consortium, then the profitability requirement will not disqualify such a bid as long as other members of the consortium are profitable.
Given the salt-to-software conglomerate's desperation to be India's No. 1 steelmaker-it seems to have overpaid for bankrupt mills- it's unclear Tata would want to take on another big deal so soon.