National Aviation Company announces stock options for Air India employees, plans IPO

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.