New Delhi/Mumbai: Ailing Air India’s (AI) plan to raise revenue by monetising its properties in the country has been delayed for lack of a clear title to quite a few of these.
Ownership documents aren't available for about a fifth of the properties in question. As a result, its monetisation target for 2012-13 has been carried over and merged with those for 2013-14; the current expectation is to raise Rs 1,000 crore through sale or lease of at least five prime properties.
The latest instance of a setback is the withdrawal of interest by Life Insurance Corporation (LIC) to buy AI’s land lot at central Delhi’s Baba Kharak Singh Marg. Said a senior LIC official to Business Standard: “Presently, we are not interested in buying the land, as there are some title issues. We are not engaged (now) in any discussions with Air India on the land.”
21/03/13 Disha Kanwar & M Saraswathy/Business Standard
