Air India may vacate Nariman Point HQ

New Delhi: Civil Aviation Minister Praful Patel has asked the management of loss-making state-owned airline Air India, which covers both domestic and international operations, to consider shifting out of its iconic headquarters in Nariman Point in Mumbai to monetize its expensive real estate.
“I have already asked them to start looking for other options. They will come back with a plan,” Patel told Business Standard.
The Air India building has 22 floors overlooking the Arabian Sea. Many floors are already leased out to other companies and it represents one of the costliest commercial real estate in both the city and the country. Air India made losses of Rs 5,000 crore in 2008-09.
Patel also said Air India would be launching a global search for a chief operating officer (COO) for the airline in about a week and hopes to complete the process in two months.
20/08/09 Business Standard

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Categories: NACIL Aug 2009