Thursday, October 31, 2019

United Airlines not looking to participate in Air India disinvestment: CEO

United Airlines is unlikely to participate in the upcoming divestment of Air India. “Buy a piece of Air India? I am not sure that is something we are looking to do,” Oscar Munoz, Chief Executive Officer, United Airlines, told BusinessLine when asked whether the American airline would be interested in bidding for the Maharaja.

Munoz was addressing the media on the sidelines of FlightPlan 2020, organised by United Airlines, in Chicago. United Airlines is one of the founder members of the Star Alliance, a global alliance of over 27 airlines, which Air India joined in 2014.

In July this year, United reported second-quarter net income of $1.1 billion, diluted earnings per share (EPS) of $4.02, pre-tax earnings of $1.4 billion and pre-tax margin of 11.9 per cent, expanding its pre-tax margin by 4 points versus the second quarter of 2018.

Munoz declined to get into specific reasons why United might not be interested in participating in the divestment of Air India. “Our partnership in India is expanding. Whether we take financial investments or create partnerships through code-share agreements….. there are many ways to make investments and create a bonding and partnership,” he added.
31/10/19 Ashwini Phadnis/Business Line
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