New Delhi: A recent presentation made by state-owned Air India (AI) officials to the civil aviation ministry shows that its plans to monetise its assets across the country and globe is nowhere close to fruition.
Almost all the land and properties shown in the presentation, a copy of which is with the dna, are either stuck due to title issues or are awaiting approvals from various authorities.
The public sector utility (PSU) needs money to clear its total liabilities running into over Rs 60,000 crore. These include paying off short- and long-term debts raised to buy aircraft, settling dues of various vendors and supplies and others such expenses.
Starting with Kaikhali property in Kolkata, which has yet to get the West Bengal government nod, to its building in Nariman Point that would require AI to pay 0.5% of the value of the property for loan taken against it as fees to acquire no objection certificate (NOC), it would be a long way before the national flag carrier will be able to raise cash from these properties.
04/03/15 Praveena Sharma/Daily News & Analysis
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Almost all the land and properties shown in the presentation, a copy of which is with the dna, are either stuck due to title issues or are awaiting approvals from various authorities.
The public sector utility (PSU) needs money to clear its total liabilities running into over Rs 60,000 crore. These include paying off short- and long-term debts raised to buy aircraft, settling dues of various vendors and supplies and others such expenses.
Starting with Kaikhali property in Kolkata, which has yet to get the West Bengal government nod, to its building in Nariman Point that would require AI to pay 0.5% of the value of the property for loan taken against it as fees to acquire no objection certificate (NOC), it would be a long way before the national flag carrier will be able to raise cash from these properties.
04/03/15 Praveena Sharma/Daily News & Analysis
