Companies raise more than $ 2 billion to buy aircraft

Mumbai: Aviation companies, including the state-owned National Aviation Company of India (NACIL) and private airliner Jet Airways, have raised more than two billion dollars of overseas debt in October to buy aircraft.
The NACIL raised one billion dollars through External Commercial Borrowings (ECBs) to get aircraft on lease and hire-purchase basis, according to a data released by the Reserve Bank today.
The debt raised by NACIL under the approval route will have to be repaid over a period of 13 years and three months.
Another public sector company Air India Charters raised 430 million dollars of overseas debt to buy aircraft.
Jet Airways raised two ECB loans of 477 million dollars and 82 million dollars in October for lease and hire-purchase of aircraft.
12/12/07 PTI/Economic Times

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Categories: Foreign Dec 2007, Jet Airways Dec 2007, NACIL Dec 2007, New Dec 2007