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    Government considers 100% divestment of Air India again, says report

    Government considers 100% divestment of Air India again, says report

    Government considers 100% divestment of Air India again, says report
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    By CNBC-TV18  IST (Published)

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    Air India's bid sell its real estate properties again found few takers as the company is only able to sell less than 10 of the 56 properties that were put up for sale in April.

    After a failed attempt to sell the debt-ridden Air India last year, the government is considering a 100 percent divestment of the airline, reported Business Standard quoting sources.
    Major companies are being approached by the centre again to assess their interest in the airline and it is also looking to convince them once the divestment process takes off, the report said.
    The government departments — aviation ministry and the department of investment and public asset management (DIPAM) have already begun the process, the report added.
    Meanwhile, Mint reported that Air India's bid sell its real estate properties again found few takers as the company is only able to sell less than 10 of the 56 properties that were put up for sale in April.
    The properties were mostly residential units and had a reserve price ranged from Rs 16 lakh to Rs 8 crore, the report said, adding that the properties were located in cities such as Mumbai, Delhi, Pune, Bengaluru, Chennai and Kolkata.
    Unnamed Air India officials told the paper that the key reason for the weak response was that the reserve prices for the properties were high and were not in line with current market conditions.
     
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