Air India rents out floors at Nariman Point headquarter

Mumbai: In The Predators' Ball, the 1980s best-seller, author Connie Bruck describes a scene involving junk bond raider Mike Milken and a CEO of a company, a large chunk of whose bonds are owned by Milken.
When the unwary executive challenges Milken by claiming to own a substantial portion of the company's equity, Milken retorts that he has life and death powers over the company as the biggest owner of its debt.
The Indian lenders to Air India are not yet in a position to make such threats to the near-bankrupt, state-owned airline. They may also not need to as the airline enjoys sovereign guarantee on its debt.
But in a move with interesting implications for the future of their relationship, the lenders and Air India are coming together to strike a deal over one of the priciest pieces of real estate in Mumbai, the Air India building at Nariman Point.
19/06/12 Manisha Singhal & Kailash Babar/Econimic Times

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Categories: Air India Jun 2012