Tuesday, February 21, 2017

Air India puts 2 Dreamliners on sale to raise $250 million

New Delhi: State-owned carrier Air India has put on sale two more Dreamliners (Boeing 787-800) to raise USD 250 million (nearly Rs 1,700 crore) for the repayment of short-term loan availed earlier for purchasing these planes.

The airline would also lease back these two Boeing 787-800s under an operating lease for a period of up to 12 years with a three-year extension option, the airline said in its Invitation of Offers document.

These two aircraft were delivered to Air India between November last year and January this year.

Under a Sale and Lease Back (SLB) arrangement, the seller of an asset leases it back from the purchaser for a long-term period and continues to use it without actually owning it.

The airline has fixed a reserve purchase price at USD 125 million (Rs 836 crore) for each aircraft.
21/02/17 PTI/Economic Times