Disinvestment-bound Air India hopes to generate Rs 200-300 crore by selling commercial and residential real estate holdings around the nation. Air India requested bids on a number of assets, including flats and plots.
“Air India through MSTC invites e-auction bids for sale of the properties located across India,” according to a public notice.
“We are expecting the auction of these properties should fetch around Rs 200-300 crore for AIAHL,” a senior official told PTI.
Among the assets for sale are a residential plot and a flat in Mumbai, five apartments in New Delhi, a residential plot in Bangalore, and four flats in Kolkata.
According to the advertisement, a booking office and staff quarter in Aurangabad, a residential plot with Airline House in Bhuj, six apartments in Nashik, a booking office in Nagpur and a residential plot in Thiruvananthapuram, and two flats in Mangaluru are also for sale.
The bids would be open from July 8 to July 9 and will end on July 9. The government is now deliberating on the final terms for the divestiture of loss-making Air India.
Air India Assets Holding Ltd (AIAHL) has been established as a special purpose entity to hold the non-core assets of the Air India group.
AIAHL was formed to store accumulated working capital loans that were not backed by any asset, along with four subsidiaries Air India Air Transport Services Ltd, Airline Allied Services Ltd, Air India Engineering Services Ltd (AIESL), and Hotel Corporation of India Ltd (HCI) and various non-core assets.
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