Saturday, December 23, 2006

Indian Airlines, Air-India merger on track

Mumbai: The merger process of Indian Airlines Ltd. and Air-India is very much on track and following a report from Cabinet secretaries, a Group of Ministers will meet in January 2007 to consider the report.
According to Union Minister for Civil Aviation Praful Patel, the process of merger will be completed by the end of the current financial year and an initial public offering (IPO) of the airlines is in the offing, "but post-merger it is more logical as valuation would be much better.''
Mr. Patel said the aviation turbine fuel (ATF) prices should be more realistic. "Being a State subject, the sales tax on ATF should be reviewed by all States and I have already spoken to all States that incidence of the sales tax is very high. Besides, with airports coming up all over the country, the connectivity will also be affected and so next year, we will have one major conference on aviation and will invite all the States to attend.''
23/12/06 The Hindu
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