Moneycontrol PRO
you are here: HomeNewsBusiness

115 Air India properties sold, Rs 738 crore raised since 2015: Govt

The government on July 8 held its latest round of auctions of Air India's properties where it was looking to sell the national carrier's properties including apartments and commercial space across major cities, in a bid to raise around Rs 270 crore.

July 29, 2021 / 06:28 PM IST
Representative image.

Representative image.

Minister of State for Civil Aviation VK Singh on July 29 informed the Lok Sabha that the government has raised Rs 738 crore from the sale of its real estate assets of Air India since 2015.

The minister in a written response in the Lok Sabha said that from 2015 till July 12, the government has sold 115 properties owned by Air India.

The government had on July 8 held its latest round of auctions of Air India's properties where it was looking to sell the national carrier's properties including apartments and commercial space across major cities, in a bid to raise around Rs 270 crore.

The government in its latest round of auction had received a good response and several people have visited the sites and made phone enquiries, people aware of the matter told Moneycontrol.

Air India had, through an advertisement in national dailies on June 18, announced the e-auction of the properties – residential, commercial and plots – located across major cities as part of its asset monetisation plan amid the disinvestment process of the flag carrier.

Close

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

The government in its latest auction had also reduced the offer price for Air India's properties by around 10 percent, a government official had told Moneycontrol.

Singh also told the Lok Sabha that Air India realises about Rs 100 crore per annum from lease rental income.

The central government is currently in the process of selling Air India, and financial bids for the carrier are likely to be received from qualified interested bidders by September 15.
first published: Jul 29, 2021 06:28 pm
Sections
ISO 27001 - BSI Assurance Mark