National Aviation Company announces stock options for Air India employees, plans IPO
12 Sep 2007
The
National Aviation Company of India (NACIL), the vehicle for the merger of Air
India and Indian, will announce ESOPs for all its employees soon. The company
plans to offload more than 5 per cent of its shares to its employees, after which
it plans to tap the capital market with an initial public offer (IPO).
Union civil aviation minister Praful Patel confirmed these reports. He also said that tentatively, the airline is looking at tapping the capital market early next year. After the ESOPs, NACIL also intends to give its employees performance-based incentives.
The
company also plans to build two maintenance, repair and overhaul (MRO) facilities
for its aircraft, in Nagpur and Delhi.