Air India gets $1.23 bn Export-Import Bank loan guarantee

Washington: The US Export-Import Bank (Ex-Im Bank) has stood guarantee for a $1.23 billion loan to help Air India buy 17 Boeing aircraft and four spare engines in a 68-aircraft fleet renewal plan.
Ex-Im Bank, the official export-credit agency of the United States, signed an $862.6 million guarantee of an ABN AMRO long-term loan to back the sale of Boeing 777-200LR aircraft, Boeing 777-300 ER aircraft, and GE90 spare engines from General Electric Co., Cincinnati, Ohio, for Air India.
The Bank also signed a $363.5 million guarantee of an ABN AMRO long-term loan to support the sale of Boeing 737-800 aircraft and CFM-56 spare engines from CFM International Inc, Cincinnati, Ohio, for Air India Express.
Ex-Im reached the agreement with National Aviation Company of India (Nacil) that does business as Air India on international routes and Air India Express on domestic and regional routes. The completion of the financing documentation for the 17 aircraft and spare engines represents the first phase of Air India's 68-aircraft fleet renewal plan.
10/10/07 IANS/Economic Times

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Categories: Air India - International Oct 2007, Air india Budget Oct 2007, Air India Domestic Oct 2007, Air India Regional Oct 2007, Foreign Oct 2007, NACL Oct 2007