Air India employees bid to take control over cash-strapped national airline ...News

Economy by : (Russia Today) -
A number of bids have been put forward for India's struggling flag carrier Air India, including one on behalf of its employees who want a controlling stake in the airline. A group of Air India employees submitted a bid to purchase 51 percent of the struggling state-owned carrier. Each employee will have to contribute at least 100,000 rupees ($1,360) toward the bid, according to Air India’s commercial director, Meenakshi Malik. The remaining 49 percent will be held by a financial partner, she said. “We always believed Air India can be a profitable set up," said Malik, adding, “The government has removed a huge part of the debt, so we t

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