New Delhi: Air India is likely to miss the target of raising Rs 1,200 crore through monetisation of its assets during the current fiscal and will be able to achieve only 33 per cent of this fiscal’s target.
“We will not be able to achieve the target we had set for this fiscal primarily because we did not get the agreement from the urban development ministry to proceed on the land sale. We were expecting a bulk of around Rs 800 crore to come from the sale of that land,” said a senior AI official.
For the current fiscal, the airline plans to raise Rs 1,200 crore. Of the Rs 1,200 crore, Rs 800 crore will come from the sale of 4 acre land in New Delhi and the rest were to come from other properties.
The delay in asset monetisation will impact the airline’s plan to clear its debt, as the proceeds from asset sale were to go for debt repayment.
13/02/14 Mihir MIshra/Indian Express
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“We will not be able to achieve the target we had set for this fiscal primarily because we did not get the agreement from the urban development ministry to proceed on the land sale. We were expecting a bulk of around Rs 800 crore to come from the sale of that land,” said a senior AI official.
For the current fiscal, the airline plans to raise Rs 1,200 crore. Of the Rs 1,200 crore, Rs 800 crore will come from the sale of 4 acre land in New Delhi and the rest were to come from other properties.
The delay in asset monetisation will impact the airline’s plan to clear its debt, as the proceeds from asset sale were to go for debt repayment.
13/02/14 Mihir MIshra/Indian Express
