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Air-India awaiting advisor's report to finalise IPO plans

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FEAST IN THE FLIGHT: V. Thulasidas (left), Chairman, Air India, with Mehernosh Kapadia, Managing Director, Taj Sats Catering Service, looks at the display of `Gourmet Flight' food festival on flight between Mumbai and London from January 5-31 at a press conference in Mumbai on Tuesday. Photo: Paul Noronha
FEAST IN THE FLIGHT: V. Thulasidas (left), Chairman, Air India, with Mehernosh Kapadia, Managing Director, Taj Sats Catering Service, looks at the display of `Gourmet Flight' food festival on flight between Mumbai and London from January 5-31 at a press conference in Mumbai on Tuesday. Photo: Paul Noronha

Staff Correspondent

Mid-air food festival launched on the Mumbai-London sector

Food festival in collaboration with Taj SATS Air Catering ServiceSpecial flight on Thursdays and SaturdaysTo acquire 68 aircraft from Boeing at a cost of Rs. 35,000 cr.

MUMBAI: Air-India is awaiting the report of its advisor on the proposed Initial Public Offering (IPO), which is to part finance its acquisition of 68 aircraft from Boeing at a cost of Rs. 35,000 crore.

Addressing the media here at the launch of the airline's mid-air food festival `Gourmet Flight' on the Mumbai-London sector, V. Thulasidas, Managing Director, Air-India, said the advisor to the IPO, DSP Merrill Lynch, was expected to submit its report soon.

The proposal would then be forwarded to the Union Government for its approval. Without divulging any details of the IPO size, Mr. Thulasidas said he was confident that the IPO would take place in the current calendar year.

The Air-India chief said the Mumbai-London `Gourmet Flight' was being introduced on this sector only and would run from January 5 to 31.

It will be offered twice weekly on Thursdays and Saturdays in all classes of seats. It has been organised by the airline in collaboration with Taj SATS Air Catering Service.

Regarding Air Sahara announcing the lowering of tariffs on the Mumbai-London sector, Mr. Thulasidas said it was normal practice among airlines to have introductory fares or discounted fares on international routes. "These are normally offered for a few seats and it does not mean that others have to follow suit.''

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