Air India employees may get ESOPs; here is what government is planning

Air India employees may get ESOPs; here is what government is planning

This is after the government would have taken out roughly Rs 25,000 crore of debt and placed it in a new entity called Air India Asset Holding Ltd, which will also house some land assets of Air India as well the airlines collection of art and antiques.

The airline has a debt of over Rs 50,000 crore.

Air India, thankfully, has certain strengths - an operating fleet of 138 aircraft, an extensive network connecting around 54 domestic and 94 worldwide destinations (including through code share agreements with foreign carriers), prime landing/parking slots and, above all, brand equity - that serious industry players might want to leverage.

Saudi Arabia has so far not allowed Israeli carriers to use its airspace, and El Al says it is the victim of unfair competition.

The bids for the 85-year-old carrier, which flies both on domestic and worldwide routes, are expected to be submitted by 14 May.

Indigo operates primarily on domestic routes has about a 40 percent market share compared with a domestic market share by Air India and subsidiary Air India Express of 12.3 percent.

Matt Renshaw to fly to South Africa ahead of fourth Test
Further sanctions are expected to be announced on Wednesday following an investigation led by CA's head of integrity Iain Roy. Smith and vice captain David Warner were stood down from their leadership roles before day four of the third Test.

Among other conditions, the selected bidder would be required to "lock-in its entire shareholding in Air India and in the special objective vehicle (in case investment in AI is made through a special goal vehicle by a consortium or otherwise), up to the expiry of 3rd anniversary of the consummation of the proposed transaction". The latter is an equal joint venture between the national carrier and Singapore-based SATS Ltd.

India said on Wednesday it plans to sell a controlling stake in Air India along with roughly $5.1 billion of the state-run carrier's debt, one of the biggest divestments undertaken by Prime Minister Narendra Modi's government.

The money that was pumped in Air India earlier would be used for public welfare sectors like healthcare and farmers, Sinha said.

Perhaps the easiest to handle in terms of staffing related issues would be Air India SATS Airport Services Ltd. The government has injected $3.6 billion (Rs 23,461 crore at $1 = Rs 65.17) since 2012 to bail out the airline.

". There will be some time for those parties who are interested, they will go through the document and come out with the expression of interest", he said.

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