Air India has decided to auction seven of its properties, as a part of its asset monetisation plan. The national carrier has mandated the auctioneer MSTC to put these properties under the hammer. According to the auction notice, Air India proposes to sell its exclusive properties in the form of land parcels/built-up flats located at prime location in Mumbai, Bengaluru and Trivandrum. This sale is likely to raise around 80 crore rupees.
As per the financial restructuring plan approved by the Cabinet Committee on Economic Affairs back in 2012, Air India is required to monetise its assets and generate 5,000 crore rupees by way of sale, leasing or developing an asset as a joint venture.