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Thursday
March 2019
9:08 PM IST
News Headlines
Soldier killed as Pak army violates ceasefire along LoC in Rajouri        SAFF Women C''ship: Indian women thrash Bangladesh 4-0, will face Nepal in finals        Theresa May seeks Brexit Day delay, EU demands new vote        Nirav Modi arrested in UK; court remands him in custody till March 29        Mayawati won''t contest LS polls, but says still possible to become PM        Samjhauta blast case: Swami Aseemanand, 3 others acquitted        Not playing is not the solution: Ganguly on workload management        IPL schedule: KKR gets relief, to play all home matches at Eden        Rupee pauses after 6-day rally, slips 43 paise against US dollar        Jaitley dubs '108 purported economists' as compulsive contrarians        Sack 3 ministers in Imran Khan's govt for supporting banned outfits: Bilawal        Pak court mulls options for recording Musharraf's statement in treason case        HC takes note of 'dearth' of special education teachers in Delhi schools        Cong-JDS to campaign jointly, vow to reduce BJP to single        Mamata lashes out at BJP for questioning her religion        Jet pilots threaten to stop flying from Apr 1, set Mar 31 deadline on bailout, salaries        Congress will restore special category status to Arunachal and other NE states: Rahul        We think about the future: Sasi Tharoor        No riots in UP since BJP came to power: Adityanath        Congress finally picks Muraleedharan for Vadakara        
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Business News
Govt has prepared revival plan for Air India: Sinha
 
New Delhi, Dec 27 (PTI) The government has prepared a 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 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.

Sinha told the Lok Sabha that the government has prepared a revival plan for Air India which focuses on building a competitive and profitable airline group.

A comprehensive financial package, including transfer of non-core debt and assets to a Special Purpose Vehicle, implementation of a robust organisational and governance reforms by the board and differentiated business strategies for each of the core businesses of Air India are part of the plan.

"Higher levels of operational efficiency by strengthening management and implementing best business processes," are among the major elements of the plan, 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 assets over the next few years.

"Till date, Air India has realised an amount of Rs 410 crore through sale of its non-core assets in various cities in India and abroad.

"Air India has also realised a rental income of Rs 314 crore approximately," he said during the Question Hour.

The minister also said that 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.


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KERALA NEWS
We think about the future: Sasi Tharoor
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No riots in UP since BJP came to power: Adityanath
Congress finally picks Muraleedharan for Vadakara
I always stand for the principles and ethics I believe in: Sasi Tharoor MP
INTERNATIONAL NEWS
Theresa May seeks Brexit Day delay, EU demands new vote
 London: British Prime Minister Theresa May wrote to the European Council on Wednesday seeking a "sho
Sack 3 ministers in Imran Khan's govt for supporting banned outfits: Bilawal
Pak court mulls options for recording Musharraf's statement in treason case
Musharraf admitted to Dubai hospital after reaction from rare disease : Party
NATIONAL NEWS
Mayawati won''t contest LS polls, but says still possible to become PM
 Lucknow/New Delhi, Mar 20 (PTI) BSP chief Mayawati Wednesday announced she will not contest the upco
Samjhauta blast case: Swami Aseemanand, 3 others acquitted
HC takes note of 'dearth' of special education teachers in Delhi schools
Cong-JDS to campaign jointly, vow to reduce BJP to single
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