Air India announces Employees Share Benefit Scheme — who are eligible, other details

The ESB Scheme is in line with the government's mandate — during the strategic disinvestment — of providing shares to the eligible employees. “In accordance with the share purchase agreement signed as part of the disinvestment process, Air India has initiated the Employee Share Benefit Scheme for eligible employees who were in service with the airline on the date of privatisation. We will be working with the relevant employees to help them understand the long-term benefits and avail of the same,” an Air India spokesperson said.

April 27, 2022 will be considered as the date from which the scheme has been in effect.

On January 27 last year, the Centre officially handed over Air India to the Tata Group. The transaction covered three entities – Air India, Air India Express and AI SATS.

After a competitive bidding process, the government had on October 8 last year sold Air India to Talace Private Limited — a subsidiary of the Tata Group's holding company — for Rs 18,000 crore. Air India was started by the Tata Group in 1932 but after the country got independence, the then Prime Minister Jawaharlal Nehru nationalised it in 1953.

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