Air India
Air India is in the throes of “disinvestment” as the government
attempts to end decades of heavy losses and state intervention to keep the
airline flying.
India’s Economic Times reported this week that
disinvestment-bound Air India hopes to raise USD26.9 million to USD40.3 million
by selling commercial and residential real estate assets in e-commerce auctions
across the country starting 8 July.
A special-purpose business unit – Air India Assets Holding Ltd – has been set up to hold the non-core assets of the Air India group, many of which will be sold off to raise cash.
Singapore Airlines
Singapore Airlines describes its financial year ending 31 March 2021 as the “toughest year in its history.” Singapore Airlines Group slumped to a record SGD4.3 billion full-year net loss for the financial year reversing the SGD$59 million operating profit it made the previous year. At the operating level, the group was SGD2.5 billion in the red.