Group of 209 employees to bid for Air India

New Delhi: A group of 209 employees of Air India are bidding for the national carrier in partnership with a private financier.

As reported first by IANS, Air India employees are preparing to bid for the national carrier in partnership with a private equity fund and each employee will be asked to contribute Rs 1 lakh towards the bid. The bid process is being led by Meenakshi Mallik, Commercial Director, Air India.

"The PIM, thankfully, made it possible for the employees of Air India to take charge and ownership of the airline, and to this end, provides various terms and conditions which need to be fulfilled, and which we intend to collectively achieve and satisfy," said Meenakshi Mallik in a letter to Team Members of Air India. The last date for the bids is December 14.