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Tuesday
June 2019
4:11 AM IST
News Headlines
Bhuvneshwar ruled out of next 2-3 games due to hamstring niggle: Kohli        Shakib 124, Liton 94 guide Bangladesh to 7 wicket victory over WI        Facebook to unveil new cryptocurrency        Sensex drops over 150 pts; Nifty below 11,800        Hong Kong police clear streets as protesters move to park        Argentina, Uruguay restore power after massive blackout        Hong Kong activist Joshua Wong walks free, calls on leader to resign        Don't bother about numbers, your every word is valuable: PM to Oppn        Kejriwal seeks action against cops for thrashing driver        Amarinder seeks Shah's intervention in streetfight between cops and driver in Delhi        WB doctors agree to call off strike during meeting with Mamata        Kerala Congress (M): Jose K Mani elected as Chairman        Cyclone Vayu to recurve towards Gujarat and weaken gradually        Joseph terms Jose K Mani''s election unconstitutional, says ''crowd'' can''t elect chairman        Heatwave claims 61 lives in Bihar        With eyes on 2022, Priyanka to step up UP tours, meet Cong workers twice a week        Hong Kong leader apologises as massive rally chokes city        Gunmen on motorcycles kill 34 villagers in Nigeria: Police        Trump to raise Hong Kong protests with Xi at G20: Pompeo        Protesting doctors turn down Mamata''s invite for talks, say CM has to apologise first        
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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
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INTERNATIONAL NEWS
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NATIONAL NEWS
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