Air India may defer IPO until 2008

Singapore: Air India, the nation's largest international carrier, could push for an initial public offering in 2008, at least a year after it plans to merge with the government-owned Indian Airlines.
The two airlines, which were earlier seeking separate listings, are on course to complete the merger by March 2007, according to the chairman and managing director of Air India, Vasudevan Thulasidas. He said that the first year after the merger would be spent integrating the staff and network of the combined entity, which will become one of the 10 biggest Asian carriers, with more than 110 planes and 111 aircraft on order.
Indian carriers are selling shares and bonds as growing demand for air travel prompts them to increase their fleets. Thulasidas is tasked with the creation of an airline that will have a fleet large enough to fend off competition overseas and in India, where four new carriers have started in the past three years.
30/10/06 Chan Sue Ling/Bloomberg News/International Herald Tribune, France

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