Govt eyes Rs 9,000 cr from Air India assets

New Delhi, December 3 

The government expects to mop up around Rs 9,000 crore by selling off land and real estate properties of debt-laden Air India, an official said today.

The sale of land, building and other realty assets is part of the government’s plan to trim the Rs 55,000-crore debt burden of Air India as this will make the airline competitive and fetch a better valuation when the government plans strategic sale of national carrier again.

Finance Minister Arun Jaitley-headed ministerial panel had last week approved transferring Rs 29,000 crore debt to a special purpose vehicle (SPV) — Air India Asset Holding Company.

“We are looking to raise about Rs 9,000 crore from sale of land and property assets of Air India. These include Airlines House in Bombay, realty property in Delhi’s Vasant Vihar and land in Baba Kharak Singh Marg, next to Connaught Place,” an official said. It had in September invited bids to sell its assets across India.  — PTI 

Properties on the block

• The assets include Airlines House in Mumbai, property in New Delhi’s Vasant Vihar and land in Baba Kharak Singh Marg, next to Connaught Place
• Earlier, it had put up for sale 28 flats in Mumbai, 7 in Ahmedabad, and two flats and an office space in Pune
• The sale of land, building and other assets is part of the plan to trim the Rs 55,000-cr debt of Air India