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Govt stated Air India sold Rs 738 crore properties to offset debt

Shortpedia

Content Team
Image Credit: Shortpedia

Since 2015, Air India has sold 115 properties for Rs 738 crore to pay off its debt, according to Minister of State for Civil Aviation V K Singh. Air India has started monetizing its immovable assets to repay its debt since the ruling of the Air India Specific Alternative Mechanism (AISAM) in 2018. As of March 2019, the airline owed about Rs 60,000 crore. “Air India has identified 111 parcels of assets for monetization,” Singh stated.