Air India merger process may take two years, says new CMD
29 March 2008
New Delhi: The merger process involving Air India and Indian Airlines would take another two years to be complete, according to Raghu Menon, chairman and managing director (CMD) designate of National Aviation Company of India Limited (Nacil).
''I will try to get at least 60-70% of the merger process in the first year,'' Menon said.
Menon assumes charge on 1 April, a day after the current CMD V Thulasidas retires from service.
As for broadening the equity base and improving the debt-equity ratio of the national carrier, Menon said that he would try to get more equity into the company and so would request the government for an equity infusion.
He said that infusion of fresh equity is needed to enable Nacil to acquire more aircraft for capacity addition and to replace old aircraft after 2011.
As for future plans, Menon said that his mandate was to make the national carrier regain its lost sheen.