Air India plans to lease its realty assets in Delhi to government enterprises. The airline does not prefer divesting the realty assets to private companies.
Air India prefers government entities while leasing its properties in Delhi.
NEW DELHI: Air India plans to lease out its real estate assets, located on Baba Kharak Singh MargBaba in Delhi. However the airline has expressed that it would not sell its properties to any private entity but will lease them to government entities.
While planning to lease out its real estate assets in Delhi, Air India has said that the preference would be given to government entities. ONGC, LIC and SIB have showed their interest in leasing the property of Air India.
Private sector companies may not get a chance to lease the property of Air India which prefers government entities to private sector companies.
As part of its monetization program, Air India will lease around 1.7 lakh sq. ft. of office space in central Delhi. The property is located on Baba Kharak Singh Marg.
Though many private sector companies have approached the national carrier for leasing, the airline authorities have said that the preference will be given to state-owned entities. Continue reading
Sahara India hunts for global iconic properties. And the firm lays its eyes on Air India’s landmark headquarters at Nariman Point in Mumbai.
Air India shakes its head in negation to Sahara’s bid.
Debt- driven Air India has recently disclosed its plan to lease/ monetize its real estate assets to cut off its debts. The national carriers was planning to lease out 20 floors of its headquarters at Nariman Point while keeping the top three floors for its own office purposes.
Air India expects to generate around Rs.50 Cr yearly by leasing out 16 lakh sq. ft. in the tower. Lucknow – based Sahara group approached Air India with its plan to lease out the entire area for 30 years. The sources close to Air India however said that the bid was not accepted as it did not wish to lease out the HQ in Mumbai for a longer period. Air India plans to lease the HQ building for shorter period. Continue reading
MNCs often resort to divest their real estate properties in the prime locations to overcome their financial crises.
Real estate divestment : best means for bigger corporates to cut off their debts.
Many Indian Corporates and MNCs fell in debt due to sluggish market and economic recession. This sluggish market situation forces many of the Indian corporate to divest their prime real estate assets.
Mounting debt has become a serious issue and problem for the Indian Corporates and MNCs. Many of them are left without any choice than to divest their real estate assets especially which are in the prime areas. Some of them resort to leasing and other monetization methods. Continue reading
Air India’s plan to monetize vacant building is hit by existing tough market conditions. Civil Aviation Minister Mr. Ajit Singh said that the AI’s Plan is severely affected by the tough market conditions existing in the real estate.
The plan of Air India to lease vacant floors in Nariman Point headquarters is fronting tough market conditions. However Civil Aviation Minister Mr. Ajit Singh said that he is confident of working out the plan to monetize the real estate properties of AI.
Air India’s plan to monetize the real estate properties was meant to raise Rs.5, 000-Crore. The government owned National Carrier had expected to raise the fund by leasing or selling of real estate properties in Delhi and Mumbai. Continue reading
Air India plans to monetize its real estate properties to overcome its present financial crises. Air India hopes to raise sufficient fund by monetizing its properties or real estate assets.
Air India is all set to raise the fund required for overcoming the current financial crises. The National Carriers have already instructed DTZ International Property Advisers Private Limited, the real estate consultant of Delhi. Continue reading