Air India IPO possible in six months: Praful Patel

The government will consider an initial public offer (IPO) for the newly formed National Aviation Company of India Ltd (Nacil) in the next six months, Civil Aviation Minister Praful Patel said Tuesday. Nacil was formed following the merger of two state-run air carriers - Air India and Indian - earlier this year. The new entity flies under the brand name of Air India.
"The Air-India and Indian merger has taken place recently and we may issue an IPO after six months. We will review the progress of the merger and take a call after six months," said Patel.
"Stock options for the employees may also be considered but let me say that the government will have a take a unanimous decision before we go ahead with any proposal," the minister told reporters on the sidelines of a function about commercial space tourism.
He said that the IPO decision would depend on the "market environment".
17/10/07 IANS/indiainteracts.com

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