Air India mulls selling 787 Dreamliners
New Delhi: Cash strapped Air India is planning to sell off its much talked about Boeing 787 Dreamliner planes, as per a newspaper report on Monday.
According to reports, the civil aviation ministry is discussing a proposal to sell 27 medium-haul aircraft.
The sale that will attract a substantial premium, compared to the price it was bought, can make the debt ridden airline company richer by 7,200 crore.
Air India had bought the aircraft at Rs 703 crore apiece in 2005. The price of the aircraft has gone up by 37 percent since, at Rs 970 crore a plane.
The move would also help AI to shore up its balance sheet as the airline company has an accumulated loss of Rs 20,000 crore.
The newspaper quoted a top official in the ministry saying there are two reasons why they are discussing the proposal — one, Dreamliners are facing technical problems; and two, the airline would improve its bottom line through a sale.
After a delay of over three years, Boeing is expected to deliver seven Dreamliners this year. And even if the government decides to sell the seven expected aircraft, it would make Rs 1,800 crore.
Air India, as part of its 111 aircraft order in 2005, had ordered 27 Dreamliners.