New Delhi: Air India, the government-owned airline with losses in crores, has devised a recovery plan by selling off its real estate assets.

According to reports, the Air India has decided to mop up Rs 700-800 crore by selling over its more than 70 residential and commercial properties spread across the country.

This fresh bid is a part of the airline’s real estate assets monetisation plan approved by the then UPA government in 2012.

As per the plan, Air India had to the garner funds to the tune of Rs 5,000 crore between April 2014 and March 2021, with an annual target of Rs 500 crore from FY13 onwards.

The properties, which are spread over 16 cities pan India, will be e-auctioned through the state-run auctioneer MSTC.

Book Air India tickets for Rs 1,000

Apart from asset monetisation, the airline has also launched slew of promotional offers to augment its customer base.

Air India has announced a discount offer under which it is offering flight tickets for as low as Rs 1,000, the airline website said.

The airline website is promoting the offer under the tagline – “beat peak hour rush.”

The Air India flights will be operated on the the Bengaluru-Ahmedabad, Delhi-Coimbatore and Delhi-Goa routes, it added. The special fares start from Rs 1,000 to Rs 3000 (taxes apply), it also said.

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