Mumbai: In a bid to shore up revenues and unlock the value of its two prime real estate assets, cash-strapped Air India plans to lease out around 1.50 lakh sq ft office space at its Mumbai headquarters and the Airlines House, its registered office located in Delhi.
The national carrier recently invited expressions of interest to appoint a real estate firm to advice it on the deal.
According to analysts, the airlines could at best garner up to Rs 500 crore through the proposed leasing, considering the prevailing dull market conditions.
"We have around 3 lakh sq ft space at our Nariman Point office in Mumbai and the Parliament Street office. Of this, over 1 lakh sq ft is under our use, while the rest is under-utilised. So we have decided to lease out around 1.50 lakh sq ft space," a source said.
26/04/12 Indian Express
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