Land Title Cloud Over Air India’s Asset Sale Plans

Air India

NEW DELHI: Air India has told a parliamentary committee that it is unable to meet the target under the asset monetization plan due to problems with land titles, in what may be a pointer to issues staring at the proposed subsidiary that is to house real estate and other non-core assets as part of the carrier’s privatization programme.

Of the Rs 5,000 crore financial restructuring plan involving asset monetisation from 2012-13 to 2021-22, Air India has so far managed to garner only Rs 369 crore, the airline informed the Public Accounts Committee (PAC).

The Centre plans to hive off real estate and non-core assets before selling a majority stake in Air India, a decision that has been endorsed by the Union Cabinet with the modalities to be worked out by a ministerial panel headed by finance minister Arun Jaitley. The plan heralds an effort by the Modi government to initiate a major disinvestment that it has shied away from so far.

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