The state-owned airline, which is surviving on government funds as part of a long-term turnaround plan, already rakes in more than Rs 80 crore annually from leasing out of floors in that building.

As many as 16 floors of this 23-storey iconic building located in South Mumbai and opened in 1974 have been leased out.

The airline has already rented out most of the 4,49,000 sq ft space of the iconic Air India Tower facing the Arabian Sea in the country's financial capital.

Air India is hoping to mop up an additional amount of up to Rs 5 crore annually by way of leasing out an additional 17,297 sq ft of space, a senior airline official said.

With regard to leasing out more space at Air India Tower building, the airline recently invited bids from government institutions and reputed private companies.

In November 2015 also, the loss-making carrier was allowed to sell four residential flats in Mumbai to public sector lender SBI for about Rs 90 crore.

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