Air India will raise Rs 300 crore by selling assets

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AHMEDABAD: Disinvestment-driven state-owned airline Kao's Air India is looking to raise Rs 500-700 crore by selling its commercial and residential assets in different parts of the country.

Air India had on June 15 invited bids for the property, which includes flats and land plots.

According to a public release, Air India has invited e-auction bids to sell its existing assets across the country through MSTC. One residential plot and one flat in Mumbai, four flats in New Delhi, one residential plot in Bangalore and four flats in Kolkata have been put up for sale.

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

A senior official expressed optimism that the auction of these assets would fetch Air India Asset Holdings Ltd about Rs 400-500 crore.

Bids will open on July 5 and close on July 4. It may be mentioned that the final outline has been prepared for the disinvestment of Air India which is running at a loss.

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