Air India to monetise assets

March 07, 2013 12:06 am | Updated June 13, 2016 12:54 pm IST - NEW DELHI

Air India has identified properties across the country in a bid to monetise them and raise about Rs.5,000 crore over a period of ten years as part of its turnaround and financial restructuring plan.

Besides, the cash-strapped national carrier has leased out four floors of its headquarters at Nariman Point in Mumbai.According to Civil Aviation Minister Ajit Singh, Air India has managed to earn an additional passenger revenue of Rs.680.13 crore and reduce its cash losses by Rs.1,125.50 crore during April-December, 2012, as compared to the corresponding period of the previous fiscal. The airline has logged an operating revenue of Rs.11,400.45 crore, while its operating expenses were Rs.13,954.47 crore, resulting in an operating loss of Rs.2,554.02 crore.

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