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BA may accept payments in equity for A-I bid

British Airways, which has joined a consortium with top NRI businessman L N Mittal to bid for the stakes of Air-India, does not rule out getting paid back in equity terms for providing technical services to the business group if the deal with the Indian government for the national carrier is settled.

"Instead of paying us in monetary terms, payments can be made in equity terms too," Dale Moss, the premier airline's Director of Sales Worldwide, told reporters on Tuesday in New Delhi.

He said discussions were on with Mittal's Ispat group on these issues and nothing has been finalised as yet. "If the deal goes through, we will sign up a contract (with Mittals) and discuss how we will be paid" for providing technical services, Moss said.

The BA executive said he was "saddened" that his airline and Air India had not had "good relations" in the past, but assured that he would "like to have better relations and personally try to ameliorate and rectify the situation".

Describing India as "an absolutely fabulous market", he said BA would like to expand its services into India. The BA now operates direct service from the four metros to the UK, Europe, USA and Canada with a total of 19 flights each week.

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