About 227 million stock options (that's 0.25% of Air India) are up for grabs, with a committee deciding who qualifies: those smashing over 85% of Air India's internal goals may receive fewer shares if the airline underperforms.
This move swaps old complimentary tickets for real ownership incentives.
Meanwhile, Singapore Airlines keeps its stake thanks to preemptive rights, and with CEO Campbell Wilson stepping down in March, Air India is also hunting for new leadership as it works to bounce back from recent financial losses.