The U.K.’s flagship air carrier may sell its nine-building campus abutting London’s Heathrow Airport, the company has said.

The move would respond to employees’ desire to work from home and would raise desperately-needed cash for International Consolidated Airlines Group (ICA), the airline’s parent company, which reported a record £7.4-billion loss last year and is in the midst of a £1-billion fund-raising effort.

“One of the very positive aspects of the last 12 months is that people have adapted well to working away from their offices,” Stuart Kennedy, the company’s human resources chief, wrote in a letter to employees quoted by the Wall Street Journal.

“The experience of working at home can feel very different to the office but it’s no less productive,” he noted.

“We’ve also restructured our business and are considering whether we still have the need for such a large headquarters,” a company spokesman said to the WSJ.

TREND FORECAST: We note this to again illustrate how there will be a long-term decrease in commercial real estate demand as the work-from-home trend become a new way of 21st-century life. 

  1. Desmond Knox 7 months ago

    What will all these pension funds do, buildings not leased, means less revenues, less rent, etc, less travel less profile less pension.. this whole under reported aspect means a smaller GDP and surely lower living standards, WFH is fine but in time majority will be made redundant

  2. lvblasiotti 7 months ago

    Once the elite uber rich buy up all of these properties for pennies on the dollar they will declare that people working at home are not as productive, do not have enough interaction with fellow employees, and on site supervision will increase productive. At that point these properties will once again rise in value. As our illustrious president has frequently said: “The game is rigged.” Do you miss him yet?

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