Initially I wanted to drop off my Macbook Air at an Apple store and have them change the battery. However, in this particular model, when the battery is dead, the CPU throttles down to the point where the machine is unusable even when the power adapter is hooked up. Apple was unable to run their diagnostics in the store and wanted to charge me the full refurbishment fee (which is 3x the price of battery replacement and over 40% of the price of a new macbook air).

I decided replace the battery myself. I ordered the replacement from iFixit and followed the instructions and my Macbook air was as good as new in 30 mins. Thanks for the excellent instructions and for the exact replacement part !

Only bit of negative feedback is that iFixit should include the peel-to-release adhesive tap in the replacement kit.