INSUBCONTINENT EXCLUSIVE:
revival plan for Air India that provides for a comprehensive financial package, differentiated strategies for each of the airline's core
businesses and robust organisational reforms, Union Minister Jayant Sinha said on Thursday
Various initiatives to turnaround the national carrier, which is staying afloat on a bailout package extended by the previous government,
including monetisation of real estate assets are progressing
Mr Sinha told the Lok Sabha that the government has prepared a revival plan for Air India which focuses on building a competitive and
implementation of a robust organisational and governance reforms by the board and differentiated business strategies for each of the core
business processes," are among the major elements of the plan, Mr Sinha said
The minister of state for civil aviation also said that Air India has planned to monetise its unutilised and surplus immovable real estate
cities in India and abroad
amount of revenue likely to be generated from monetisation of land and properties depends on the bid process and subject to no-objection
certificates from authorities concerned
Air India is estimated to have a debt worth over Rs 55,000 crore
separately decide the contours of the mode of disposal of the subsidiaries -- Air India Engineering Services Ltd (AIESL), Air India Air
Transport Services Ltd (AIATSL) and Airline Allied Services Ltd (AASL)," he noted
The Air India Specific Alternative Mechanism (AISAM) has also approved the contours for sale of subsidiaries of Air India and has directed
to expedite the sale of AIATSL, the minister added.
