Air India Seeks Loan for Six Boeing Aircraft

Even as the Government of India is working on the final plans for a strategic disinvestment of its stake in loss-making national carrier Air India, the airline is ready with plans to fly to more overseas destinations. The airline seeks offers from banks and financial institutions to arrange bridge financing of up to $740 million for the purchase of six Boeing 787-8 planes, according to a tender document.

An Air India Aircraft

“In addition to the Government of India guarantee, Air India will offer the aircraft as a security. The facility should be a direct loan without the requirement for formation of a special purpose vehicle structure which requires title transfer,” the tender document said.

Air India has a fleet of 110 airplanes, including 33 Boeing aircraft, reports BusinessLine.

 

Be Sociable, Share!
Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

0 comments

There are no comments yet...

Kick things off by filling out the form below.

Leave a Comment

*