The government may sell off parts of Air India's real estate assets which are not directly owned by the carrier but are on a 99-year lease from the government.
One such property is the 4-acre land at Baba Kharak Singh Marg near Connaught Place and the other is the residential colony in Vasant Vihar. These properties are on 99-year lease to Air India and the money earned from the sale of these assets would be used to clear the debt, said sources.
Indianmandarins has learnt that the Vasant Vihar residential colony may be handed over to NBCC Ltd for redevelopment. The plan for the land near Connaught Place has not been decided yet. According to the turnaround plan approved by the Manmohan Singh government in 2012, Air India was to monetize its assets across the world and was estimated to earn about Rs 5,000 crore that would be used to repay debt.
Air India's real estate assets may be sold; NBCC to benefit
By IndianMandarins - 2017-09-18 12:40:00
The government may sell off parts of Air India's real estate assets which are not directly owned by the carrier but are on a 99-year lease from the government.
One such property is the 4-acre land at Baba Kharak Singh Marg near Connaught Place and the other is the residential colony in Vasant Vihar. These properties are on 99-year lease to Air India and the money earned from the sale of these assets would be used to clear the debt, said sources.
Indianmandarins has learnt that the Vasant Vihar residential colony may be handed over to NBCC Ltd for redevelopment. The plan for the land near Connaught Place has not been decided yet. According to the turnaround plan approved by the Manmohan Singh government in 2012, Air India was to monetize its assets across the world and was estimated to earn about Rs 5,000 crore that would be used to repay debt.
