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Air India announces Employees Share Benefit Scheme — who are eligible, other details

aviation | Jan 25, 2023 8:45 PM IST

Air India announces Employees Share Benefit Scheme — who are eligible, other details

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Now, eligible employees can purchase up to 3 percent equity or 97.9 crore shares at 21 paise per share. The scheme will be in effect from April 27, 2022. Read for more details.

Air India on Wednesday, January 25, announced the Employees' Share Benefit (ESB) Scheme, according to which eligible employees can purchase up to 3 percent equity or 97.9 crore shares at 21 paise per share.

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Permanent employees of Air India and Air India Express, appointed before January 27, 2022 would be eligible for the scheme. Employees retiring on or after January 27, 2022 would also be deemed eligible for the scheme.


The employees availing shares under the scheme would be receiving dividends if and when declared.

The ESB Scheme is in line with the government's mandate — during the strategic disinvestment — of providing shares to the eligible employees. “In accordance with the share purchase agreement signed as part of the disinvestment process, Air India has initiated the Employee Share Benefit Scheme for eligible employees who were in service with the airline on the date of privatisation. We will be working with the relevant employees to help them understand the long-term benefits and avail of the same,” an Air India spokesperson said.

April 27, 2022 will be considered as the date from which the scheme has been in effect.

On January 27 last year, the Centre officially handed over Air India to the Tata Group. The transaction covered three entities – Air India, Air India Express and AI SATS.

After a competitive bidding process, the government had on October 8 last year sold Air India to Talace Private Limited — a subsidiary of the Tata Group's holding company — for Rs 18,000 crore. Air India was started by the Tata Group in 1932 but after the country got independence, the then Prime Minister Jawaharlal Nehru nationalised it in 1953.

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