IndiGo and Qatar Airways sign code sharing agreement. Air India's asset monetisation plan.
Sharing is Caring: Private domestic airlines, IndiGo and Qatar Airways today signed a code share agreement.
What Does This Mean: As part of the agreement, Qatar Airways will place its code on IndiGo flights between Doha-Delhi, Mumbai and Hyderabad starting today.
The agreement is likely to strengthen the company’s international operations and boost economic growth in India by bringing in more traffic for trade and tourism through seamless mobility. NDTV Profit
In Other News: Air India is auctioning about 38 of its real estate assets in a bid to raise funds. These also include assets that have been put on sale multiple times but failed to attract bidders. However, this time around, Air India has lowered the reserve price of some of these properties, especially those in Tier 1 cities, to attract buyers.
The properties on the block include flats at Asian Games Village Complex in New Delhi, flats in Kolkata’s Golf Green area, residential land in Mumbai’s Bandra, Khar and Prabhadevi areas, a holiday home in Lonavala, flats at Chennai’s Besant Nagar, apart from flats in Bengaluru and Mangaluru. The airline is also offering to sell properties in Nashik, Pune, Gwalior, Thiruvananthapuram and Bhuj in the upcoming auction.
Good to Know: Air India’s plan to monetize its real estate is part of a turn around plan approved by the government in 2012. The airline was then directed to raise INR500cr every year from monetizing real estate. Unfortunately, however, the state carrier has missed this target every year since 2012. Livemint
(Don't want to miss out on these End Of Day Wrap Ups? Subscribe Now to our WhatsApp Feed and get the day's Top Business stories straight on your favourite messaging app.)