Legal process for merger of AI, Indian completed

By Staff
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Google Oneindia News

New Delhi, Aug 24 (UNI) The ministry of corporate affairs has approved the application for merger of Air India (AI) and Indian into a new company called National Aviation Company of India Ltd (NACIL).

With the filing of approval today with the Registrar of Companies, the legal process for merger of both government-owned airlines in NACIL stands completed. Mr V Thulasidas takes over as chairman and managing director while Mr Vishwapati Trivedi will be joint managing director of the merged company.

''It is good that the merger process has been complete,'' said civil aviation minister Praful Patel.

''It will pave the way for the new merged entity to become one of the top most airlines in the world,'' he said, adding that most seat capacity is being planned and new routes -- especially to and from CIS countries -- are in the offing.

The minister said, ''New exciting time is to come in which passenger comfort will be prime focus.'' The merged airline will fly under the brand of Air India both domestically and internationally. The new airline will have a combined fleet size of over 112 aircraft, comparable to the best airlines in Asian region, and will rank among the top 30 airlines in the world.

As part of its fleet acquisition programme of 111 aircraft, the new airline will induct 21 new aircraft (seven Boeing 777, 10 Airbus 320 family aircraft and four Boeing 737-800) this year itself.

AI recently X X X Eds picking up here from line one para five of DI 21, AVIATION-AI-INDIAN-MERGER.

UNI

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