A consortium of Air India employees that placed an expression of interest (EoI) in the privatisation of the national carrier has failed to qualify for the next round.
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Air India staff’s takeover plan fails to make the cut
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Meenakshi Mallik, the airline's commercial director who spearheaded the ambitious attempt to take over the state-run carrier, said in a three-page letter to employees that the consortium was not shortlisted.
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As of late last night, I have seen an email from the transaction adviser to the government of India (Ernst & Young LLP), informing the Employees of Air India that we have been unsuccessful in qualifying to the next phase of the ‘Disinvestment Acquisition process’,” she said.
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