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    Air India unlocking realty assets

    Air India
    In an attempt to pull itself out of the prevailing financial mess, Air India has decided to sell its properties and land parcels across the country including in big cities, airports and airline offices at prime locations. In this connection, it is deputing consultant to make a detailed inventory report of the assets and fix a proper valuation for them. The entire process will be reviewed by a committee, which will comprise of secretary-level officials from the Civil Aviation ministry and Finance ministry, people from Air India, and a retired judge. It is worth mentioning here that Air India has a vast bank of immovable properties, which have been accumulated over a period of time at various locations in India and abroad and huge portion of such properties are lying unused for a long time. Besides these, there are some locations from where the airline has stopped functioning; the idea is to sell those assets to see how much it can reduce its debt burden, said official sources.
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