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Air India board okays plan to sell New Mumbai apartments to staff
Our Bureau
Mumbai
,
Sept. 13
THE Air India board on Monday decided to sell some 500 apartments located at Nerul in New Mumbai to its employees.
These flats, meant as living quarters for its employees, were lying vacant for the past five years.
According to company sources, the apartments would be sold at `cost plus' price to Air India employees and to other civil aviation staff.
The decision to dispose of the property, taken at its board meeting, is in line with the practice being followed by some of the PSUs of avoiding recurring expenditure on this count, said an airline source.
Air India had blocked over Rs 65 crore for building this residential complex, the land having been acquired in 1992.
The decision comes in the backdrop of staff reluctance to commute between New Mumbai and the city, the source added.
The board has also approved `in principle' a Rs 400-crore plan to refurbish its fleet.
As part of taking a fresh look at its aircraft acquisition programme, this would include refurbishing its fleet of eight Airbus A310s and six Boeing 747-400s.
This decision could delay the fleet acquisition programme by at least six months.
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