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.