About 10 properties, flats in Mumbai and Hong Kong and property in Chennai have been put on fast track for a sale or lease.
Air India's market share has increased to almost 21% in November from 15.4% in April and may become Ebitda positive by 2012-13.
The lapse of its licence would deal a huge blow to the company and its employees, who are yet to receive salaries for many months in 2012.
New year is likely to prove happier for travellers who book tickets much in advance, with fares expected to drop by almost a fifth.
The German firm has also vowed to suspend all funding to Indian carriers casting doubts over future purchase programmes of airlines such as Indi-Go and Jet Airways.
The regulator is waiting for Vijay Mallya to fulfil his promise made on December 7, of presenting a revival plan before month-end.
GMR says it "feels cheated" for having the contract cancelled over an illegal component present in it, which they were not aware of.
Turkish Airlines plans to double flights between Delhi and Istanbul and add Hyderabad and Kolkata as new destinations next year, its chief executive, Temel Kotil, told ET.
Reviewing its earlier decision to abolish airport development fees from January 1, 2013, the government now plans to lower the charge by spreading it over a longer tenure.
Indian airlines are set to see over 42% utilisation of seats allowed for overseas destinations, beating foreign rivals for the first time in 8 years.
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