New Delhi: State-owned national carrier Air India is set to surpass its revenue target from asset monetization programmes in the current financial year with Cabinet Secretary Ajit Seth recently clearing the way for sale of a prime plot of land on Delhi’s Baba Kharak Singh Marg. With the go-ahead, the airline is expecting to gain revenues of around Rs 1500 crore from sale of assets as compared to the original target of Rs 1000-1200 crore set for this fiscal year.
A senior official at Air India said, “We have already put up for sale four apartments in Mumbai and a plot of land in Gurgaon. The response is very good. We are receiving 30-40 enquiries every day. The Cabinet Secretary recently gave a go-ahead for us to sell the land on Baba Kharak Singh Marg. We are expecting to exceed our revenue target from asset monetization this year.”
The Ministry of Urban Development had in the draft land transfer deed barred Air India from selling or leasing the land on Baba Kharak Singh Marg despite the plot was being included in the first phase of asset sale under the financial restructuring plan (FRP) approved by the Cabinet. Seth.
16/09/13 Sharmistha Mukherjee/Business Standard
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A senior official at Air India said, “We have already put up for sale four apartments in Mumbai and a plot of land in Gurgaon. The response is very good. We are receiving 30-40 enquiries every day. The Cabinet Secretary recently gave a go-ahead for us to sell the land on Baba Kharak Singh Marg. We are expecting to exceed our revenue target from asset monetization this year.”
The Ministry of Urban Development had in the draft land transfer deed barred Air India from selling or leasing the land on Baba Kharak Singh Marg despite the plot was being included in the first phase of asset sale under the financial restructuring plan (FRP) approved by the Cabinet. Seth.
16/09/13 Sharmistha Mukherjee/Business Standard
