Air India would be selling its four residential flats that are expected to fetch around Rs 90 crore in Mumbai. The flats will be sold to SBI as the air-carrier is looking to raise funds by sale of certain assets. The proposal had been in process for some months now and the Cabinet aproved it recently.
These Air India apartments are on the Peddar Road in South Mumbai. The debt-laden Air India has been looking for many options to raise funds to meet its funding requirements which include sale of properties and land parcels.
In August 2013, the national airline had floated bids for e-auctioning of these four flats. Each of these 3-BHK flats measures 2,033 sqft in carpet area. Under the land monetisation plan, Air India expects to mop up Rs 5,000 crore over a 10-year period in its bid to bridge the widening mismatch in its revenue and expenditure.
19/11/15 DNA
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These Air India apartments are on the Peddar Road in South Mumbai. The debt-laden Air India has been looking for many options to raise funds to meet its funding requirements which include sale of properties and land parcels.
In August 2013, the national airline had floated bids for e-auctioning of these four flats. Each of these 3-BHK flats measures 2,033 sqft in carpet area. Under the land monetisation plan, Air India expects to mop up Rs 5,000 crore over a 10-year period in its bid to bridge the widening mismatch in its revenue and expenditure.
19/11/15 DNA
