 "Air India, Air India headquarters")
Union shipping minister Nitin Gadkari's proposal of selling Air India's iconic building in Mumbai to the Jawahar Lal Nehru Port Trust (JNPT) has hit turbulence as the national carrier’s board is reluctant to sell the building, which is ostensibly its ‘cash cow’.
Besides, the sale would not have yielded much cash flow for the company since the building is mortgaged to State Bank of India.
It is also felt that under the current market conditions, the building is unlikely to garner the kind of funds expected from a prime real estate at Nariman Point.
According to an official in the know, “It is
