Air India seeks up to $230m loan for Dreamliner buy

Tags: Companies
Air India Ltd is seeking a bridge loan of up to $230 million for taking delivery of two Boeing 787 Dreamliner aircraft from an ongoing order, according to a tender document on the carrier's website.

Air India, which is due to take delivery of two 787 aircraft in February and March, has invited offers from banks or financial institutions to arrange the bridge financing for a period of six months to one year.

The state-run airline is offering the aircraft as security, and will repay the loan after it concludes a sale and leaseback arrangement, it said, adding there will be no government guarantee for the loan.

The two new aircraft will take Air India's Dreamliner fleet to 14 by March. The carrier currently operates 11 of the jets and has a total 27 on order.

EDITORIAL OF THE DAY

  • Stricter deterrent must to force defiant promoters to buy back shares

    The Securities and Exchange Board of India’s (Sebi’s) decision to delist companies that have been suspended from trading on stock exchanges for mo

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Political rhetoric makes for counter poetry

Poetic flourishes flavour politics. Ghalib and Hafez flowed profusely to ...

Zehra Naqvi

Watch your words, for they can kill

You must’ve heard the ph­rase ‘if looks could kill’. Ever ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture