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209 Air India employees submit EoI for 51% stake in national carrier

Disinvestment guidelines mandate that the company will not be able to partner any private company. It has to partner with either a bank or a financial institution

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Apart from the financier's backing, each employee willing to participate in the bid will be asked to contribute Rs 1 lakh towards the bid.

A group of 209 Air India employees has submitted an expression of interest for the national carrier in partnership with a private financier. The bid process is being led by Meenakshi Mallik, who is the current commercial director at Air India. “We have submitted an EoI along with a partner who will give us financial backing,” Malik confirmed to Business Standard refusing to disclose further details as they are confidential. While rules allow bid by Air India employees, disinvestment guidelines mandate that the company will not be able to partner any private company. ...