AI-Indian Airlines merger complete

New Delhi: With the Ministry of Corporate Affairs (MCA) approving the application for merger of Air India and Indian Airlines, the new company, National Aviation Company of India Limited (NACIL), has formally become a legal entity. The merger also marks the culmination of the process that was initiated by Civil Aviation Minister Praful Patel about a year ago.
The company was incorporated under the Companies Act, 1956, on March 30 and with the filing of the MCA’s approval with the Registrar of Companies on Friday, the legal process for the merger is now complete.
V. Thulasidas takes over as the Chairman and Managing Director (CMD) and Vishwapati Trivedi as the Joint Managing Director (JMD) of the merged company. The merged airline will fly under the brand ‘Air India,’ both domestically and internationally.
The new airline will have a combined fleet size of over 112 aircraft, comparable to the best airline in the Asian region and will rank among the top 30 airlines globally.
The merged airline will have other revenue generating divisions such as cargo, low cost carrier (LCC), ground handling and MRO with each one of them being managed as a separate strategic business unit (SBU) under the corporate umbrella.
25/08/07 Vinay Kumar/The Hindu

To Read the News in full at Source, Click the Headline

Categories: Air India Aug 2007, Indian Aug 2007