Air India's New Owner to Retain Employees on Payroll After Acquisition

The government is likely to include a clause in the share purchase agreement to ensure Air India employees do not lose jobs immediately after privatisation.

This would entail that a successful bidder take the employees of Air India and Air India Express on its payroll for a period of one year after the completion of the sale. According to the latest figures available, the two companies together have 13,868 employees. The government has decided to sell the core airline company Air India and its low-cost arm Air Express together.

Read more: http://www.business-standard.com/article/companies/air-india-s-new-owner-to-retain-employees-on-payroll-after-acquisition-118032500585_1.html