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    Cannot disclose the revenue generated on sale of Air India's Dreamliner: Government

    Synopsis

    Mahesh Sharma said last week that "due to the confidentiality clause, the revenue generated on the sale of Dreamliner aircraft cannot be disclosed".

    TNN

    NEW DELHI: The government has refused to reveal the revenue it earned from sale of state-owned Air India's Dreamliner (B787-800) aircraft, 12 of which were sold between 2013 and 2015.

    In a written reply to a question in Rajya Sabha, minister of state for civil aviation Mahesh Sharma said last week that "due to the confidentiality clause, the revenue generated on the sale of Dreamliner aircraft cannot be disclosed".

    The minister also informed the House that "the sale proceeds of the Dreamliner aircraft have mainly been used to repay the loans outstanding against these aircraft. The balance amount, if any, has been utilized for the day to day operations of the company".

    Sharma was replying to questions by Trinamool Congress MP Sukhendu Sekhar Roy who had asked about the year-wise details of Dreamliner aircraft Air India sold between 2013 and 2015, "how much revenue was generated through sale of the Dreamliners" and also "details of how the sale proceeds have been utilised by Air India"?

    In his reply, Sharma said, "Air India has sold (under sale and lease back arrangement) a total of 12 Dreamliner aircraft between 2013 and 2015. Of these 12 aircraft, two were sold in 2013, nine were sold in 2014 and one aircraft was sold in 2015."

    After receiving the government's reply, Roy said, "It is surprising that government is not willing to give the House details about transactions in public and how Air India utilised the money." He added that "confidentiality clause" was nullified after the transaction was over.

    As part of its fleet expansion plan, the national carrier had in 2006 placed orders with Boeing for 68 aircraft of which 27 were Dreamliners. Air India put on sale nine of its 21 Dreamliners in 2014 to raise over Rs 7,000 crore to fund acquisition of new aircraft and for repayment of the bridge loan availed earlier for purchasing these Boeing 787-800s.



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