National Aviation board approves $469 m funding

Mumbai: The board of directors of National Aviation Company of India Ltd (NACIL), the entity into which Air India and Indian have been amalgamated, approved the borrowing programme for three aircraft and two spare engines amounting to $469.415 million.
The aircraft includes one B777-200 LR and two 777-300 ERs. The three aircraft would be inducted into Air India’s fleet during 2008, a statement from the company said.
Also, the board of directors of Air India Charters Ltd (AICL) gave approval to a borrowing programme for five B737-800s and three spare engines amounting to $243.605 million.
AICL is a subsidiary of NACIL under which Air India Express operations come. These aircraft will be inducted into the fleet of Air India Express between January 2008 and March 2009. However, the bankers for the funding programmes are yet to be finalised.
29/12/07 Business Line

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Categories: Air India - International Dec 2007, Air india Budget Dec 2007, Air India Domestic Dec 2007, Air India Regional Dec 2007, NACIL Dec 2007