Gulf Carrier is likely to acquire stake in Air India’s maintenance, repair and overhaul (MRO) unit, TOI states. Air India had hived off the unit as a separate subsidiary with about 7,000 employees.
Along with MRO, ground handling subsidiaries also had been spined-off by AI very recently.
Air India is the flag carrier airline of India. It is part of the government owned Air India Limited. The airline operates a fleet of Airbus and Boeing aircraft serving Asia, the United States, Europe and now Australia.
Air India was founded by JRD Tata. The company has been making loses past seven years since the merger of state-run carrier Indian Airlines with Air India in 2007. The rising competition, worsening operational performance, massive aircraft purchases, and the ill-conceived merger had pushed the combined airline into the bad phase.
Read News In Full 23/10/13 Pranali Shah/Dealcurry
Thursday, 24 October 2013
Gulf Carrier to Acquire Stake In Air India's MRO Unit
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