State-owned carriers Air-India and Indian (Airlines) were formally merged on Friday after the Ministry of Corporate Affairs gave its formal approval to the merger of the two carriers, which will have a combined fleet of 112 carriers.
The two airlines were merged into a new company -- National Aviation Company of India Ltd-- a government release said.
V Thulasidas will be the chairman while Vishwapati Trivedi will be managing director of the new company that will fly under the brand name 'Air India'. The merged entity will operate on the domestic and as well as international sectors, the release said.
Air-India will have a combined fleet of 112 aircraft and will be among the top 10 airlines in Asia and among the leading 30 airlines globally.
As a part of its fleet acquisition programme of 111 aircraft, the new airline will induct 21 new aircraft this year including seven Boeing 777s, 10 A-320s and 4 Boeing 737-800 this year.
Air India has already launched its inaugural flight between Mumbai and New York as a joint entity from August 1. This is the first time a national carrier is offering a non-stop flight between India and the United States.
Air India will have two more brands along with the main carrier, its low-cost arm Air India Express (which will operate on international and domestic sectors) and Air India cargo.
The airline also plans to tie up with one of the aircraft manufacturer for a maintenance, repair and overhaul facility which will also serve as a strategic business unit for the airline, the statement said.