After the intended sale of Air India has been complicated for years, 209 employees now want to take the reins into their own hands and, together with an unspecified fund, are bidding for the takeover of the ailing carrier.

According to information from the IANS news agency, sales director Meenakshi Mallik is to lead the interested parties. An internal circular shows that the 209 employees will participate with around 1.119 euros each if the offer is successful. The remaining funds are to be raised by the fund, which is not specified in detail.

“Financially, I know that we do not have the necessary prerequisites to take part in this tendering process alone. Accordingly, we were looking for a private equity fund and tried to secure the support that invests with us in the company and shares the benefits, ”said Mallik in a statement. If you are successful, the shareholding ratios should be as follows: 51 percent employees and 49 percent of the funds.