Air India concludes e-auction of 14 properties

Air India concluded the bidding process for 14 of its properties located in different parts of the country on August 31, 2017. The airline managed to receive bids worth more than the reserve price for 10 of these properties. As a next step, in September 2017, the state-run auctioneer, MSTC Limited, will auction about 30 properties valued at over Rs 5 billion. As of March 2017, the national carrier’s total debt stood at Rs 488.77 billion, of which Rs 173.6 billion is aircraft loans and the remaining Rs 315.17 billion is in the form of capital loans. Meanwhile, in a separate development, the government has decided to appoint transaction advisers for the entire divestment process. Further, a travel services company, the Bird Group, has expressed a willingness to acquire the national carrier’s ground handling subsidiary, Air India Air Transport Services Limited.


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