Air India sold its 115 properties for ₹738 crore since 2015: Govt

PTI Updated - July 29, 2021 at 03:26 PM.

Disinvestment-bound Air India has been monetising its immovable assets to offset its debt

**EDS: FILE IMAGE FOR CIVIL AVIATION STORIES** New Delhi: In this Monday, March 2, 2020 file photo are seen Air India planes parked at the IGI Airport in New Delhi. The Civil Aviation Ministry on Thursday, May 21, 2020 issued Standard Operating Procedures (SOPs) for passenger movement which needs to be followed by airports, passengers and airlines after the flight operations commences from May 25. (PTI Photo/Ravi Choudhary) (PTI21-05-2020_000203A)

Air India has sold its 115 properties for ₹738 crore since 2015 to offset its debt, Minister of State for Civil Aviation V K Singh said on Thursday.

According to the decision of Air India Specific Alternative Mechanism (AISAM) in 2018, disinvestment-bound Air India has been monetising its immovable assets to offset its debt. The carrier had a debt of around ₹60,000 crore as on March 2019.

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In his written reply to a question in Lok Sabha, Singh said on Thursday, “Air India has identified 111 parcels of properties for monetization; out of which 106 parcels of properties are in India and the rest five are overseas properties.” The 111 parcels of properties consist of 211 units, which are under monetization, he added.

Singh said, “Air India has so far received ₹738 crore from sale of 115 units from 2015 to 12th July, 2021. Air India also realises about ₹100 crore per annum from lease rental income.” The Centre is currently in the process of selling Air India. Financial bids for the carrier are likely to be received from qualified interested bidders by September 15.

Published on July 29, 2021 09:56
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