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

NEW DELHI Mon Jan 20, 2014 5:27pm IST

An Air India Boeing 787 Dreamliner prepares for a flying display, during the 50th Paris Air Show, at the Le Bourget airport near Paris, June 20, 2013. REUTERS/Pascal Rossignol/Files

An Air India Boeing 787 Dreamliner prepares for a flying display, during the 50th Paris Air Show, at the Le Bourget airport near Paris, June 20, 2013.

Credit: Reuters/Pascal Rossignol/Files

Related Topics

Stocks

   

NEW DELHI (Reuters) - Air India Ltd is seeking a bridge loan of up to $230 million for taking delivery of two Boeing(BA.N) 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.

(Reporting by Devidutta Tripathy; Editing by Sunil Nair)

FILED UNDER:
  • Most Popular
  • Most Shared

Insight

REUTERS SHOWCASE

Border Talks

Border Talks

India names Ajit Doval as special envoy for China border talks.  Full Article 

WTO Deal

WTO Deal

U.S. seeks to step up India trade talks  Full Article 

Phone Masts

Phone Masts

American Tower to buy Bharti Nigeria phone masts for $1.1 billion  Full Article 

Infrastructure Plan

Infrastructure Plan

India targets private cash to build railways to its ports.  Full Article 

Shadow Banking

Shadow Banking

Reserve Bank planning more measures for NBFCs.  Full Article 

Auto Sector

Auto Sector

Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets  Full Article 

Oil Prices

Oil Prices

Some fund managers see oil falling to $60 without OPEC cut.  Full Article 

Project Shelved

Project Shelved

Jindal Steel shelves $10 bln project after coal setback.  Full Article 

Market Eye

Market Eye

Sensex, Nifty rise to record after China, ECB stimulus boosts risk appetite.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage