In February 2013, Air India officially vacated the building as part of its asset-monetisation plan, and shifted its corporate office to New Delhi.

Located on Marine Drive, facing the Arabian Sea, the building is a landmark on Mumbai's skyline with the airline's trademark centaur icon on its top.

The centrally air-conditioned building was the first in India to have an escalator, carrying customers from the street-level to the airline's main booking office.

[1] The Air India building was one of several high rises including Express Towers and the Oberoi Sheraton that came up at Nariman Point, a 64-acre reclamation from the sea which was initiated as a project to ease the housing crisis in Mumbai but was later auctioned off in plots to various companies.

[11] The Air India Building was then expected to be sold for Rs 20 billion or leased for ₹ 660 million every year.

In February 2013, Air India board gave a formal approval to the proposal to shift its headquarters from Mumbai to Delhi, leasing out vacant space in the building.