Air India revival package to be ready soon: Sinha

14 properties to be sold to raise Rs 250 cr

Minister of State for Civil Aviation Jayant Sinha on Monday said that the revival package of debt-ridden Air India (AI) was at its final stage and would be announced soon. The revival package is being undertaken after the government failed to divest the national carrier to private operators due to huge liabilities.

"We have devised a four-pronged strategy for the revival of Air India. The revival package is in the final stage and will be sent soon for approval after which the announcement will be done", Sinha said on the sidelines of the AGM of Calcutta Chamber of Commerce. The reforms of AI would be firstly financial, secondly to make it a professional board-managed company, thirdly to make the airline successful and competitive and lastly to improve the quality and skills of the existing workforce. "This is a very complicated analysis", he said.

He said Rs 1 lakh crore would be invested in airports to raise capacity to handle one billion passengers annually, besides building airport infrastructure and improving air traffic management. NEW DELHI: Air India on Monday sought bids for the sale of 14 properties, through which the debtladen airline aims to raise Rs 250 crore, a senior airline official said.

The properties, spread across Mumbai, Kolkata, Chennai, Bengaluru, Pune and Amritsar, include commercial and residential land as well as residential flats, according to an advertisement in a business daily.

The last date for participating in the bids is November 1, according to the advertisement.