Air India Puts Properties On Sale, Aims To Collect Rs. 300 Crore
- ByStartupStory | June 19, 2021
Several real estate properties of Air India in New Delhi, Mumbai, Kolkata, Ahmedabad, Bengaluru, Mengaluru, Nashik, and Nagpur have been put to sale. National carrier Air India puts properties on sale which include offices, flats, and staff quarters. Air India has already been facing cash crunch for a long time, now after the loss suffered in Pandemic, they start making fresh ways to raise money in this fiscal
Air India puts properties on sale : and all these properties are located on prime locations such as New Delhi’s Asian Games Village Complex, flats at Bandra’s Pali Hill neighbourhood, flats at Kolkata’s Golf Green locality, and the airline’s booking office at Nagpur, among others. A tender for the purchasal of these properties was issued to make interested buyers take notice.
This e-auction will close on July 9th, and Air India has kept sufficient time for properly conducting the auction, and getting the best value of the properties. News agency Press Trust of India has reported that the airline plans to raise ₹200 crore to ₹300 crore from its asset monetisation plan.
At a time when the economy of India is struggling hard to keep it’s head up, it may be difficult for Air India to raise their target money right now. The sales will depend mostly on how much valuation of property the airline keeps. However since real estate has been the backbone of the country for quite a long time, Air India is sincerely hoping this e – auction will take it out of its financial crunch.
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