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AI Board approves asset monetization, endorses stand on pilots
May 14, 2012
As per the plan approved by the Govt of India, Air India plans to monetize Rs 5000 crore over 10 years to support its Financial Restructuring Plan at an average of Rs 500 crore per year. Air India is looking for top real estate consultants with wide experience in operating in India and abroad. The plan is to have the consultant by June 30, 2012.
Air India Board also approved the issue of non-convertible debentures for Rs 7400 crore guaranteed by the Govt for part repayment of the working capital received from banks.
The Board also endorsed the stand taken by the Management in respect of terminations of the striking pilots and fully supported the view that indiscipline should not be tolerated in any form or manner.
Meanwhile, all domestic flights of Air India are operating as per schedule. None of the domestic flights of the airline are affected due to the present agitation.
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