Thursday, September 13, 2018

Air India to sell land, flats worth Rs 300 crore

New Delhi: In yet another round of auction of its assets as part of its asset monetisation plan, crisis-hit Air India would issue tenders on Thursday for land parcels and flats worth about Rs 300 crore across various cities, a top airline official said.

Maintaining that the recent equity infusion of Rs 980 crore and sovereign guarantee to raise Rs 2,000 crore loan from banks have brought some relief, the official said, adding that a turnaround plan was in the works.
“The revival plan for Air India has been discussed at various levels of the government. We hope a decision on it would come in due course of time," he said.

The airline has so far in this fiscal received Rs 1,630 crore as equity infusion from the government. The sovereign guarantee for raising Rs 2,000 crore has come in two instalments. Following the financial support from the Centre, the airline has been working hard to put 17 of its grounded aircraft back in the skies.
13/09/18 PTI/Deccan Chronicle