States, Psus Invited To Bid For Air India Building At Nariman Point

After a botched attempt to sell the government’s majority stake in Air India, the airline has invited bids for its iconic building at Nariman Point in Mumbai from “state governments and government entities only” for sale of leasehold rights of the land and the building. The last date for submission of the bids is February 5.

Restricting the sale of the Nariman Point building to states and state-owned entities is likely to limit the valuation of the property.

The United Progressive Alliance had in 2012 approved a bailout package for Air India, known as a 10-year Turnaround Plan/Financial Restructuring Plan (TAP/FRP) for the airline. The TAP/FRP, still under way, envisaged budgetary support of ₹30,231 crore spread over 10 years till March 2021 as well as equity support for the payment of principal and interest of non-convertible debentures. Read more

You may also read!

Pune Is In Dire Need Of A Full-fledged Airport

Ajinkya Firodia, the managing director at Kinetic Engineering, wears two hats. He also leads Motoroyale Kinetic — India’s


Pilot Errors Behind Kolkata Airport Safety Concerns?

Two apparent pilot errors within a span of 36 hours at Kolkata airport have triggered safety concerns.


Mumbai Airport Expansion Plan On Runway As State Rejigs Slum Rehab Formula

The state government has zeroed in on eight land parcels, totalling around 65 acres, on the airport’s western periphery


Leave a reply:

Your email address will not be published.

Mobile Sliding Menu