PM to announce merger of AI-IA today

New Delhi: Creation of new airline company, National Aviation Co, by merging Indian with Air India is likely to be formally announced by Prime Minister Manmohan Singh on Saturday when he unveils the new fleet of the merged entity.
With a fleet size of 112 aircraft by 2010 when the merger process would be completed, National Aviation will figure among the top 30 airlines in the world and the top 10 in Asia. The merged entity would be in a better position to compete with larger rivals like Emirates and Singapore Airlines.
Alliance Air and Air India Express, the low cost subsidiaries of Indian and Air India, would also be merged. It is estimated that the merger would result in savings of Rs 600 crore for National Aviation at the end of the third year of merger due to synergy between Indian and Air India.
28/07/07 Nirbhay Kumar/Economic Times

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Categories: Air India Jul 2007, Indian Jul 2007