Air India will soon be vacating its iconic Arabian sea-facing headquarters at Nariman Point in Mumbai. The national carrier's board has given formal approval to shift its corporate headquarter to airlines house at Parliament Street in New Delhi. This move, the struggling national carrier hopes, will generate money and ensure better coordination.
The decision was in the offing for some time now and is in line with Air India's asset-monetisation plan. The decision to shift base to the capital should cut down on expenses but more importantly raise money from renting out the 23-storey Nariman point property. Air India will retain only three top floors of building. It plans to lease out as many 18 floors.
"They have recd proposals for many floors, they have to finalise it," Ajit Singh Civil Aviation Minister said.
21/02/13 CNBC-TV18/moneycontrol.com
