Last Updated: June 19, 2021, 0835hrs

On Friday the national carrier sought bids for a number of its properties, including flats and plots. The comes with the objective of raising Rs 200 to 300 crore for the disinvestment-bound Air India by selling its commercial and residential real estate assets in different parts of the country.

“Air India through MSTC invites e-auction bids for sale of the properties located across India,” according to a public notice.

The auction is expected to fetch around Rs 200-300 crore for AIAHL. The bids would be open on July 8 and close on July 9.

A residential plot and a flat in Mumbai, five flats in New Delhi, a residential plot in Bangalore, and four flats in Kolkata along with a booking office and staff quarter in Aurangabad, a residential plot along with Airline House in Bhuj, six flats in Nashik, booking office in Nagpur and a residential plot in Thiruvananthapuram and two flats in Mangaluru are among the properties that have been put on sale, as per the notice.

Air India Assets Holding Limited (AIAHL) is a Special Purpose Vehicle (SPV ) formed by Government of India with an aim to provide unified Asset Holding Services basically to hold the non-core assets of Air India group.

AIAHL was set up for warehousing accumulated working capital loan not backed by any asset along with four subsidiaries — Air India Air Transport Services Ltd, Airline Allied Services Ltd, Air India Engineering Services Ltd (AIESL) and Hotel Corporation of India Ltd (HCI) and various non-core assets.

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