IA to come up with IPO after the AI-IA merger

Mumbai, Aug 1: National carrier Indian Airlines is bullish about entering the capital market to raise resources through IPO, but only after the completion of the merger process between Air India (AI) and Indian Airlines.

Talking to sources on the sidelines of a function here today, Indian Airlines CMD Vishwapati Trivedi said, ''Yes we are thinking of coming up with our IPO but only when the merger process was over.'' A consultant, which is a consortium led by Accenture with Ambit Corporate of France, has already been appointed by the government for drawing the roadmap for the merger of the two national carriers which was likely to begin soon. The consultant has also been asked to suggest when the national carrier would enter the capital market.

About the fleet acquisition process, Mr Trivedi said, ''We have already completed all the preparation required for the purpose and urged the government to prepone the deadline meant for it from earlier decided date of June next year to the end of the current fiscal''.

On the issue of new airbuses that are to join the national carrier, he said that while one airbus would join our fleet by October this year, the rest 42 airbuses are likely to be included next year. The new airbuses would be equipped with distinctive facilities like in-flight entertainment gizmos and television sets with multi-channel option.

UNI

Related Stories