Sunday, October 21, 2018

Air India calls off plan to sell Mumbai tower to JNPT

Cash-strapped national carrier Air India has abandoned plans to sell its iconic 23-storey tower at Nariman Point in Mumbai to Jawaharlal Nehru Port Trust (JNPT) to raise funds.
“That matter is closed now,” a government official briefed on the development said. “The board of Air India does not want to sell the tower,” he said. Asking not to be named because he is not authorised to speak to the media,. the official did not attribute any reason to the board’s change of stance.
Air India could not be reached for comment immediately.
Shipping Minister Nitin Gadkari, didn’t reply on Saturday when asked about the status of JNPT’s plan.
The tower built in 1974, was designed by John Burgee of New York-based firm Johnson and Burgee. It was the corporate head quarters of Air India until 2013 when it shifted base to New Delhi following a 2007 merger with Indian Airlines, another State-owned company that operated on domestic routes.
21/10/18 P Manoj/Business Line
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