Air India sold 115 properties at Rs 738 cr since 2015 to offset debt

31 Jul 2021 CW Team

On Thursday, the Ministry of State for Civil Aviation, V K Singh, told the media that Air India had sold 115 of its real estate properties of Rs 738 crore from 2015 to offset its debt.

As per the decision of Air India Specific Alternative Mechanism (AISAM) in 2018, the disinvestment-bound Air India has been monetising its immovable assets to offset its debt. In March 2019, the company had a debt of about Rs 60,000 crore.

On Thursday, Singh replied to Lok Sabha that Air India had identified 111 property parcels for monetisation, of which 106 property parcels are in India, and the remaining five are overseas properties.

He also said that the 111 parcels of properties have 211 units that are under monetisation.

On 8 July, the government held the first auction of Air India properties to sell the national carrier's properties such as apartments, commercial space in major cities and raised about Rs 270 crore.

On 18 July, Air India announced the e-auction of properties, including residential and commercial plots across major cities, as a part of the monetisation plan, amid the carrier's disinvestment process.

According to an official, the government has also reduced Air India's offer price by about 10% in its recent auction for Indian properties.

Until now, Air India has received Rs 738 crore from selling 115 units from 2015 to 12 July 2021. Air India even realises about Rs 100 crore annually from lease rental income, Singh said.

Currently, the centre is in the process of selling Air India. Financial bids are also to be received from qualified, interested bidders by 15 September 2021.

Image Source

Also read: Air India property auction begins; company targets to raise Rs 270 cr

Infrastructure Urban

31 Jul 2026

SCLR Extension Nears Completion Linking BKC With Signal-Free Route

The Santacruz-Chembur Link Road (SCLR) extension towards Bandra-Kurla Complex (BKC) via the Mumbai University campus has entered its final stage, bringing motorists closer to a direct, signal-free connection between the Western Express Highway and the city’s commercial district. The elevated connector is being built as an arm from the SCLR alignment and will link the western suburbs with BKC without surface signals. The link is designed to reduce journey times for commuters travelling from the western suburbs to BKC and to improve access to eastern Mumbai. By carrying through traffic above s..

Raiganj MP Seeks Bengal Only Highway Link To Siliguri

Raiganj Member of Parliament Kartik Chandra Paul met Union Minister for Road Transport and Highways Nitin Gadkari in New Delhi to press for a new stretch of national highway in North Dinajpur district. He urged approval for a Bengal-to-Bengal link that would connect National Highways 12 and 27 to allow vehicles bound for Siliguri to avoid the current route through Kishanganj in neighbouring Bihar. He also submitted a proposed alignment of the new road to the ministry for consideration. At present vehicles from Raiganj travel along NH-12 and join NH-27 at Purnia More in Dalkhola, a route that p..

Airport Kilambakkam Metro Line To Be Extended To Chengalpattu

Chennai Metro Rail (CMRL) has invited tenders for two detailed project reports that would extend its rail network to Chengalpattu in the south and extend Corridor-5 to Wimco Nagar in the north as part of a second wave of expansion beyond the operator's corridors under construction. The move signals an acceleration of planning for suburban links and interchange nodes. The larger of the two studies covers a roughly 27km extension from the planned Kilambakkam metro station to Chengalpattu under Corridor-1, Phase I. CMRL floated the tender at an estimated cost of Rs 21.6 mn. The proposed line woul..