New Delhi: Air India is considering selling off its properties in foreign destinations like Hong Kong, Nairobi and Mauritius as part of asset monetisation to garner resources, according to airline officials.
The national carrier has started approaching Indian banks and public sector undertakings for disposal of these properties including floorspace in prime locations, they said.
They further said the Indian High Commissions at these places have also been approached to help the airline find suitable buyers for the assets.
The plan to monetize real estate assets is an important ingredient of Air India's financial restructuring and turnaround plans, under which the airline aims to raise an estimated Rs. 5,000 crore over a period of 10 years, with an annual target of Rs. 500 crore from 2013-14 onwards.
The airline has already chalked out plans to monetise its unutilised or surplus immovable assets over the next few years, the officials said, adding properties in several cities including Delhi and Mumbai are already in the process of either being sold, or leased or rented out.
27/04/14 PTI/NDTV
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The national carrier has started approaching Indian banks and public sector undertakings for disposal of these properties including floorspace in prime locations, they said.
They further said the Indian High Commissions at these places have also been approached to help the airline find suitable buyers for the assets.
The plan to monetize real estate assets is an important ingredient of Air India's financial restructuring and turnaround plans, under which the airline aims to raise an estimated Rs. 5,000 crore over a period of 10 years, with an annual target of Rs. 500 crore from 2013-14 onwards.
The airline has already chalked out plans to monetise its unutilised or surplus immovable assets over the next few years, the officials said, adding properties in several cities including Delhi and Mumbai are already in the process of either being sold, or leased or rented out.
27/04/14 PTI/NDTV
