New Delhi: Air India has mopped up Rs 5.43 billion so far from monetisation of its assets in prime locations such as Mumbai and Chennai, the Lok Sabha was informed on Thursday.
The monetisation included the sale of six flats at Sterling Apartment, Mumbai to the State Bank of India with each of these flats fetching Rs 220 million, Minister of State for Civil Aviation Jayant Sinha said in a written reply.
The national carrier also collected Rs 2.91 billion as lease rental from its priced Air India building at Nariman Point, Mumbai between 2012-13 and January 2018, he said.
"In all, Air India has monetised a sum of Rs 5.43 billion from 2012-13 to 2017-18," Sinha told the House.
However, he said the state-run airline has failed to meet its target of asset monetisation due to issues with land titles and end user restrictions.
The Centre had in 2012 approved monetisation of real estate assets in AI to the tune of Rs 50 billion over the next 10 year period with an annual target of Rs 5 billion from 2013 financial year onwards.
The monetised asset included selling of a vacant land at Coimbatore to NBCC for Rs 198 million and Lakshmi House at Chennai to the Ministry of External Affairs at Rs 977 million.
15/03/18 PTI/Business Standard
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The monetisation included the sale of six flats at Sterling Apartment, Mumbai to the State Bank of India with each of these flats fetching Rs 220 million, Minister of State for Civil Aviation Jayant Sinha said in a written reply.
The national carrier also collected Rs 2.91 billion as lease rental from its priced Air India building at Nariman Point, Mumbai between 2012-13 and January 2018, he said.
"In all, Air India has monetised a sum of Rs 5.43 billion from 2012-13 to 2017-18," Sinha told the House.
However, he said the state-run airline has failed to meet its target of asset monetisation due to issues with land titles and end user restrictions.
The Centre had in 2012 approved monetisation of real estate assets in AI to the tune of Rs 50 billion over the next 10 year period with an annual target of Rs 5 billion from 2013 financial year onwards.
The monetised asset included selling of a vacant land at Coimbatore to NBCC for Rs 198 million and Lakshmi House at Chennai to the Ministry of External Affairs at Rs 977 million.
15/03/18 PTI/Business Standard
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