Air India plans to hike Rs 80 crore through sale of assets


MUMBAI: Government-run Air India plans to raise around Rs 80 crore through sale of its seven properties, including some land parcels, as a part of its asset monetisation plan.

The national carrier has mandated the state-run auctioneer MSTC to put these properties under the hammer.

“Air India proposes to offer its select properties as land packages/developed pads situated at prime area in Mumbai, Bengaluru and Trivandrum through e-closeout handle by MSTC,” as per an e-sell off notice posted on the carrier’s site today.

“We are cheerful of raising Rs 80 crore from the e-unloading of the seven properties, which incorporate both land packages and pads,” a senior Air India official said.

According to the turnaround arrange/money related rebuilding arrangement endorsed by the Cabinet Committee on Economic Affairs (CCEA) in 2012, Air India is required to monetise its advantages and produce Rs 5,000 crore by method for deal, renting or building up a benefit as a joint wander.

Under the arrangement, the bearer is to get monetary help to the tune of Rs 30,000 crore over a 10-year time span.

Air India has been in control of a few properties which are lying empty and unused for quite a while. These incorporate packages of land and additionally private and business domains in India and abroad.

Up until now, the bearer has possessed the capacity to pitch four of its pads in Mumbai to SBI for Rs 90 crore.

Besides, it has also leased out almost the entire space at its previous headquarters at Nariman Point here to various government agencies.