Saturday, August 11, 2012

NEWS | Air India Seeks $500 Million Loan For Boeing Dreamliner Purchase

Air India Ltd., the state-owned carrier, is seeking as much as $500 million of loans to help pay for four Boeing Co. 787 planes.
The airline will repay the bridge loan by selling and leasing back the aircraft, according to a tender document on its website. Banks have until Aug. 24 to submit bids, it said.

The carrier’s first two Dreamliners, funded by a $195 million loan from Standard Chartered Plc, are scheduled to arrive this month after the government approved a compensation offer from Boeing for delivery delays. The airline will use the fuel-efficient 787s to start Sydney and Melbourne flights as it seeks to attract more passengers and cut expenses in a bid to end five years of losses.
Air India expects to have received a total of six 787s by the end of the year, according to the tender.


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