Govt Plans to Sell Air India's Real Estate, Ground Handling Subsidiary

Dec. 4, 2018

In an attempt to pare down Air India's debt burden of over Rs 50,000 crore, the government yesterday decided to sell some of the Maharajah's real estate along with the strategic sale of the airline's ground handling subsidary Air India Air Transport Services Limited (AIATSL).

Sources in the know told The Times of India that on Tuesday a ministerial panel headed by Finance Minister Arun Jaitley gave the green light to sell 27 acres of Air India's land in the capital's upmarket Vasant Vihar to public sector company NBCC. This land will be used to build high-end luxury apartments. The panel reportedly also took an in-principle decision to take up the sale of a large plot on Baba Kharak Singh Marg, in Central Delhi, which can be taken up for commercial use.

Read more: https://www.businesstoday.in/sectors/aviation/govt-plans-to-sell-air-india-real-estate-ground-handling-subsidiary/story/295234.html