Air India may lower prices of its properties to draw more buyers

NEW DELHI: Air India could slash by as much as a quarter the base price of real estate assets including plots, apartments and a commercial tower it plans to auction, officials at the staterun airline said.

Two years ago, the national carrier had put on the block as many as 111 properties with a cumulative price tag of Rs 9,500 crore, hoping to monetise assets to reduce its mounting debt. It has so far managed to sell only 32 of those, raising about Rs 1,000 crore, the officials said.