Air India to raise Rs50bn through asset monetisation

Singapore
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Air India's board has approved a proposal to raise Indian rupees (Rs) 50 billion ($930 million) over the next 10 years by monetising assets such as its properties.

The plan is to earn revenue from its assets, including properties that can be leased out, says a spokesman.

Air India also plans to issue Rs74 billion worth of government-backed non-convertible debentures, which will be used to repay part of its working capital received from banks, adds the spokesman.