16. Undertakings of existing air companies to vest in the Corporation.—
On such date as the Central Government may, by notification in the Official Gazette, appoint (hereinafter referred to as “the appointed date”), there shall be transferred to and vest in—
(a) Indian Airlines, the undertakings of all the existing air companies (other than Air India International Ltd.), and
(b) Air India International, the undertaking of the Air India International Ltd.
