As the Centre is gearing up to invite fresh expressions of interest (EoIs) by December 15 for the sale of its entire stake in Air India, the employees of the national carrier — over 11,000 at last count — will be offered job protection for a period of one year, sources told FE.
“The sale and purchase agreement (SPA) agreement will provide that strategic partner shall not retrench any employees of the company for a period of one year,” an official said. The Centre will share the SPA privately with prospective bidders at the EoI stage itself to help them take long-term view of the various liabilities and plan funding for the deal.
