Air India IPO likely in second half of 2008

New Delhi: The government is considering divesting its stake in national carrier Air India through an initial public offering (IPO) in the second half of 2008. This was stated by Civil Aviation Minister Praful Patel Friday on the sidelines of a press conference to launch India’s first civil aviation exhibition, India Aviation 2008.
“We may consider issuing an IPO in the second half of this year,” he told reporters, noting the divestment may be in the range of 10-15 percent of the shareholding.
Patel said he would also be meeting Finance Minister P. Chidambaram to discuss reduction in excise and custom duty on aviation turbine fuel (ATF).
He said states could make their “taxation” policy more “reasonable”, by reducing their levy on ATF, which will directly affect ticket prices.
India’s aviation growth will be through Indian state governments and smaller cities, rather than the central government or metropolitan cities, he added.
“I am in favour of bringing in the states. They themselves can be the drivers of growth,” Patel said.
28/02/08 IANS/Thaindian.com, Thailand

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Categories: NACIL Feb 2008