The national carrier has decided to sell these aircraft "at a total consideration of USD 336.5 million with the approval of the government", Minister of State for Civil Aviation K C Venugopal said in Rajya Sabha today.
Observing that the airline had expected profitability out of operating these aircraft, he said their sub-optimal use led to "route-aircraft mismatch on the network resulting in uneconomic operations of B777-200".
With the induction of Boeing 787 Dreamliners in Air India which is "more fuel-efficient and more suitable for long routes", the airline decided to withdraw the B-777s from such routes.
In reply to another question, Venugopal said Air India has said that they do not have any objection if the operations of superjumbo Airbus A-380 aircraft was allowed "initially from Mumbai airport and that the operations to other airports may be considered after reviewing the impact".
The Civil Aviation Ministry has also moved a proposal to amend the existing eligibility criteria to allow Indian carriers to fly abroad.
He said the proposal to amend the existing criteria would be "by removing the requirement" of a minimum five years experience of continuous domestic operation and a 20 aircraft fleet.
Venugopal said there were no such restriction applicable to foreign airlines operating into India.