Aviation

Air India employees plan to bid for the debt-ridden national carrier: Report

Updated : December 04, 2020 11:39 PM IST

A group of Air India employees have entered the fray to bid for the debt-ridden national airline along with a financial partner, according to a report.

The development comes at a time when the Narendra Modi-led government is searching for buyers for the airline.

According to a news portal Plane Vanilla report citing a source on the condition of anonymity, the employees will bid for the airline.

"The employees of Air India don't want to replace the government with another owner, who is not closely associated with the running of the airline on a day-to-day basis. They want to retain that majority for themselves so that they can run it," the report said.

The employees intend to do is partner with a private equity fund, who will provide them with the necessary financial support and strength, while the employees will provide their expertise in the aviation industry, it said.

A minimum of 51 percent would rest with the employees of the company if their bid is successful, according to the report.

Air India employees plan to bid for the debt-ridden national carrier: Report

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