Air India defends the sale of Boeing 777 planes to Etihad

CAG had rapped the airline for selling five planes below market price

Defending itself against the criticism of the Comptroller and Auditor General (CAG), Air India has defended the sale of five Boeing 777-200 LR planes to Etihad, saying it was the best option to check loss and reduce debt.

The CAG has criticised Air India for selling the aircraft below its indicative market price, under-reporting its losses and poor initiatives to monetise its real estate. 

Air India inducted eight Boeing 777-200 Long Range aircraft in 2005 to serve the US with non-stop flights but the operations turned loss-making because the airline was unable to generate the expected loads and yields. In 2014 Air