Mumbai: After months of dilly-dallying, the cash-strapped Air India is closer to improving its working capital by monetizing its prime properties across India. The national carrier, which has accumulated losses of about Rs 20,000 crore, is all set to appoint a global property consultant to help it raise over Rs 5,000 crore by selling and leasing its prime properties measuring roughly 76.30 lakh sq ft or 175 acres in Delhi, Mumbai and Chennai. Jones Lang Lasalle has emerged as the frontrunner among three other bidder consultants like DTZ and Cushman and Wakefield to advise the airline on the sale process.
The national carrier is also contemplating selling a 25,000-sq-ft commercial building it owns on Poyle Road in London and two flats admeasuring nearly 3,000 sq ft in Tokyo. In Mumbai, the airline owns approximately over 20 lakh sq ft, of which 14 lakh sq ft is in Nerul, housing AI staff quarters.
06/11/12 Rajshri Mehta/Times of India
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The national carrier is also contemplating selling a 25,000-sq-ft commercial building it owns on Poyle Road in London and two flats admeasuring nearly 3,000 sq ft in Tokyo. In Mumbai, the airline owns approximately over 20 lakh sq ft, of which 14 lakh sq ft is in Nerul, housing AI staff quarters.
06/11/12 Rajshri Mehta/Times of India
