Govt Has Prepared Revival Plan For Air India: Sinha


Team Udayavani, Dec 27, 2018, 3:28 PM IST

New Delhi: 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 “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.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Coast Guard rescues stranded Indian fishing boat with 11 crew members off Kerala coast

‘World is on fire’ because of Biden, says Trump’s aide

How can government issue contracts for solid waste management without landfills? asks DKShi

Two soldiers injured in gunfight with terrorists in J & K’s Doda

Heavy rains: Holiday for schools, PU colleges in Byndoor and Hebri

Fake Holiday Order: Dakshina Kannada DC instructs officials to file FIR

Valmiki Corp. funds used to purchase liquor before general elections: ED

Related Articles More

Mumbai receives heavy showers, residents complain of waterlogging

Adityanath suggests greeting ‘kanwariyas’ with shikanji, drone deployment to monitor Yatra

Amid Kannadiga reservation concerns in Karnataka, Andhra IT Minister invites companies to state

SC to hear on Thursday pleas related to controversy-ridden NEET-UG 2024

Coast Guard rescues stranded Indian fishing boat with 11 crew members off Kerala coast

MUST WATCH

Tapta Mudra Dharana

Banana Farming

Aghnashini River

Dr. Rajkumar

Poisoning – Prevention


Latest Additions

Mumbai receives heavy showers, residents complain of waterlogging

Rain havoc in Chikmagalur: House collapses, caught on cam

Flood Alert: Netravati river submerges agricultural fields

Adityanath suggests greeting ‘kanwariyas’ with shikanji, drone deployment to monitor Yatra

Amid Kannadiga reservation concerns in Karnataka, Andhra IT Minister invites companies to state

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.