Air India will sell its properties located across India in an e-auction that will be available on its website. The airline hopes to complete its divestment process this year. As per an advertisement, the auction will start on July 8, 2021, and closes on July 9, 2021. The e-auction notice is available on its website.
Air India Properties In Mumbai, Bengaluru, Delhi & Kolkata Are On Sale
The properties include five units at the Asian Games Village Complex in Delhi, a 3BHK and two 2BHK flats in Gazdar Scheme, Santacruz, Mumbai, and a residential plot with 14 flats in Pali Hill, Bandra, Mumbai. The list also includes a residential plot in Gangamuthanhalli Village, Devanahalli District in Bengaluru, and residential flats in Uday Shankar Sarani, Golf Green, Kolkata.
In Maharashtra, Air India has listed booking offices and quarters in Town Centre, Aurangabad, CIDCO 2BHK flats in Nashik, and booking office in Civil Lines, Nagpur. A residential plot and an Airlines House in Bhuj are on offer in Gujarat. A flat Mangalore; a residential plot in Thiruvananthapuram also feature on the list.
#AirIndia Ltd is offering to sell several properties, including offices, flats, and staff quarters at major metropolises as the cash-strapped airline makes a renewed attempt for such divestments this fiscalhttps://t.co/bZ26TaHzTw
— Hindustan Times (@htTweets) June 19, 2021
The Government Hopes To Raise ₹15,000 Crores From Air India Sale
The disinvestment of cash-strapped Air India will happen by the end of this year, Union Civil Aviation Minister Hardeep Singh Puri. “Air India is still in the debt of ₹60,000 crores and it’s liable to be sold,” the minister had said in late March. The government hopes to earn approximately ₹15,000 crores from the sale of Air India, its subsidiary Air India Express and AISATS.
Air India has announced the e-auction of multiple properties – residential, commercial and plots – located across major cities. @vandanaramnani1 reports #AirIndia #RealEstate | @airindiain https://t.co/UppM7QxCRX
— moneycontrol (@moneycontrolcom) June 18, 2021
The Tata Group and SpiceJet are the final two bidders for Air India. The government hopes to raise ₹1.75 lakh crore from disinvestments and strategic sales. The airline also plans to sell its other assets by BPCL, Air India, Container Corporation of India, Shipping Corporation of India, and IDBI Ban amongst others