Air India attempt to sell real estate fails to take off

Air India attempt to sell real estate fails to take off
27/05/2019 , by , in News/Views

State-run Air India Ltd’s latest bid to sell its real estate assets has found few takers. The national carrier could sell less than 10 of the 56 properties that were put up for sale in April, according to two people directly aware of the development.

The reserve price of these properties, mostly residential units, ranged from ₹16 lakh to about ₹8 crore and were located in cities such as Mumbai, Delhi, Pune, Bengaluru, Chennai and Kolkata.

The money-losing airline had put up for sale a plot that has 14 flats with a total built-up area of 2,030 sq. m in Pali Hill, an upscale neighbourhood in Mumbai.

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