<p class="title">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.</p>.<p class="title">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.</p>.<p class="title">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.</p>.<p class="title">"Higher levels of operational efficiency by strengthening management and implementing best business processes," are among the major elements of the plan, Sinha said.</p>.<p class="bodytext">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.</p>.<p class="bodytext">"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 abroad. "Air India has also realised a rental income of Rs 314 crore approximately," he said during the Question Hour.</p>.<p class="bodytext">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.</p>
<p class="title">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.</p>.<p class="title">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.</p>.<p class="title">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.</p>.<p class="title">"Higher levels of operational efficiency by strengthening management and implementing best business processes," are among the major elements of the plan, Sinha said.</p>.<p class="bodytext">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.</p>.<p class="bodytext">"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 abroad. "Air India has also realised a rental income of Rs 314 crore approximately," he said during the Question Hour.</p>.<p class="bodytext">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.</p>