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Our Bureau

Mumbai , June 3

AIR India is planning to hire an advisor for its proposed initial public offering this month.

"We should hire an advisor by the end of this month. We hope to enter the capital market by the end of the year,'' said Mr V. Thulasidas, Chairman and Managing Director, Air-India.

The airline is not likely to revise its fares in the backdrop of a fall in domestic aviation turbine fuel (ATF) prices, he said.

"Air India is an international airline. Its fares are not decided merely on what happens in India,'' he said on the sidelines of a Confederation of Indian Industry press meet.

Oil companies had recently slashed prices of ATF by around 8-9 per cent in view of the global decline.

Mr Thulasidas said about two-thirds of ATF is uplifted from the international market. "Therefore, fare revision would depend on ATF's price trend globally. International airlines operate in a very competitive scenario. Fares keep moving up and down constantly,'' he said.

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