Air India likely to mop up Rs 3-4 thousand crore via asset monetisation

Air India has asked NBCC to prepare a Detail Projects Report on monetisation of its various assets within a month's time.

New Delhi: Debt-laden Air India has come up with a fresh roadmap on asset monetisation to tackle its fiscal woes. It is expected that Air India will be able to raise Rs 3-4 thousand crores through this monetisation process.

As per Zee Media sources, the national carrier, which is staying afloat on taxpayers' money, has asked NBCC to prepare a Detail Projects Report (DPR) on monetisation of its various assets within a month's time.

Sources said that in a meeting last week, Air India asked NBCC to make separate roadmap for each assets so that the recovery process can be hastened. Sources also revealed that both NBCC and Air India have agreed on some common terms regarding asset monetisation over the national carrier's properties in Vasant Vihar and Baba Khadak Singh Marg.

NBCC will make residential projects in the Vasant Vihar property, spread across 30 acres while it will raise commercial projects at land in Baba Khadak Singh Marg, spread across 4 acres.

Sources added that NBCC has already started planning for these projects. In the second phase, Air India will reportedly monetise three other assets.