Mumbai: Air India is once again putting up some floors of its iconic sea-facing headquarters building in Nariman Point, Mumbai, for rent.
After the dull response to its first attempt at leasing 12 of the 23 floors (1,59,000 sq. ft) in its building in October last year, the debt-laden national carrier has now invited fresh bids, the second time in the last five months. The last attempt reportedly resulted in award of only four floors to State Bank of India after the airline extended the bid offer.
The new round of bidding comes after the Board of Air India formally approved shifting of the airline’s headquarters from Mumbai to Airline House in New Delhi with immediate effect last month.
This is part of a larger exercise by the airline to monetise its real estate assets by renting, selling or re-developing its properties across the country to gather revenues of Rs 5,000 crore in the next 10 years.
24/03/13 Manisha Jha/Business Line
