``It has become a non-performing asset and we find that there are no takers from within and hence we have floated a tender hoping that a public sector undertaking can come up with an offer,'' an AI official said when contacted on Monday.

The township at Nerul in Navi Mumbai, includes 508 residential flats, 24 shops, community hall and a school building, was planned in early 90s and had cost the airline about Rs 50 crore, all from internal accruals since it was a profit-making airline then.

The official said the industrial plot at Turbhe at Navi Mumbai, where an engineering complex was planned, was also being disposed off while a plot taken from Haryana Government at Gurgaon for a similar set up was being retu-rned.

These plots were taken as the airline then was planning to increase its fleet size and the medium capacity long range aircraft was being considered.``We have no choice but to exit from these non-core areas otherwise we will continue to spend money only to maintain them,'' the official added.