Tuesday, October 02, 2018

Air India to sell 14 properties; eyes Rs 250 crore

National carrier Air India Monday sought bids for the sale of 14 properties, through which the debt-laden airline aims to raise Rs 250 crore, a senior airline official said.
The government is looking to bolster the fortunes of the state-run carrier after the proposed strategic stake sale failed to take off in May.
Against this backdrop, efforts are continuing for the sale of the airline's non-core assets.
The properties, spread across Mumbai, Kolkata, Chennai, Bengaluru, Pune and Amritsar, include commercial and residential land as well as residential flats, according to an advertisement in a business daily.
The last date for participating in the bids is November 1, according to the advertisement.
"We expect to mop up around Rs 250 crore from sale of these properties," the official told .
01/10/18 PTI/Economic Times
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