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Air India to sell real estate assets worth up to ₹300 crore

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State-run airline Air India, which is on the path of disinvestment, is looking to raise Rs 200-300 crore by selling its commercial and residential assets in different parts of the country.

Air India on Friday invited bids for properties, including its flats and plots.

According to a public notice, Air India has invited e-auction bids through MSTC to sell its properties across the country.

A residential plot and a flat in Mumbai, five flats in New Delhi, a residential plot in Bengaluru and four flats in Kolkata are among the properties that have been put up for sale.

According to the information, the sale includes a booking office and staff quarters in Aurangabad, a residential plot with airline house in Bhuj, six flats in Nashik, booking offices in Nagpur and a residential plot in Thiruvananthapuram and two flats in Mangaluru.

“We expect Air India Assets Holding Limited (AIAHL) to get around Rs 200-300 crore from the auction of these properties. Bids will open on July 8 and close on July 9.”

It may be noted that the government is in the process of finalizing the roadmap for disinvestment of loss-making Air India. AIAHL, a special purpose mechanism has been set up to hold the non-core assets of Air India Group.

News Source: HindustanTimes

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