Friday, August 25, 2017

Air India eyes Rs 510 crore from sale of 61 properties

Air India (AI) wants to sell off as many as 61 properties all across India to raise a minimum of Rs 510.09 crore as part of its asset-monetization plans. The actual sale-proceed amount will differ depending upon the auction amount and the number of properties actually getting sold.
For decades now, the public carrier has been in red, with its current debt standing at a staggering over Rs 52,000 crore and accumulated loss at over Rs 50,000 crore. In order to cut down its losses and debt, it has been trying to sell or develop or lease out its properties.

As per the latest round of e-auction plans, there are as many as 43 apartments, 10 residential and commercial plots, one building, four bungalows and three shops. The total reserved price of all these properties is Rs 510.09 crore.

These properties are spread in different cities of India like Mumbai, Gurugram, Trivandrum, Bengaluru, Kolkata, Bhuj, Ahmedabad, Gwalior, Lucknow, Pune, Nashik, Goa and Chennai.
25/08/17 Ateeq Shaikh/DNA