Air India to have Rs 1,500.05 crore as paid up equity

Mumbai: The newly-formed national carrier Air India is likely to have a paid up equity of Rs 1,500.05 crore, and a decision in this regard will be taken after a consultant submits its report to the company's Board.
Of the total Rs 1,500.05 crore, the erstwhile Indian would contribute Rs 1,000 crore, former Air India Rs 500 crore and the government Rs five lakh.
However, the airline's board, National Aviation Company of India Ltd (NACIL), which met here today, is awaiting the report of the consultant, Accenture, on the issue to firm up its decision on equity, sources in the Board said here.
The sources said NACIL, which would operate the airline under the Air India brand name, had filed in its registration papers yesterday to complete the formalities of merger. The Corporate Affairs Ministry had given its green signal to the merger four days ago.
28/08/07 PTI/The Hindu

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Categories: Air India Aug 2007