Air India to sell, lease 6 aircraft

Mumbai: Hit by the global financial meltdown and mounting losses, Air India, plans to raise USD 165-million through the sale and lease-back of aircraft.
National Aviation Company of India Limited (NACIL), the holding company of Air India, has floated global tenders for the sale and lease-back of six of its aircraft for seven years.
The aircraft are one Boeing 747-400 and five Airbus A320-200.
The reserve price is set at USD-65 million for the B747-400 aircraft and USD 20-million per aircraft for the A320-200 aircraft, the state-run airline said in its bid document.
Air India had last year posted losses of Rs 2,100-crore and this year its losses are likely to be around Rs 4,000-crore.
Amidst these losses, the airlines has sought a bailout package from the Government in the form of both soft loans and equity infusion.
Initially, the national airline had demanded USD 417-million from the Central Government to keep it going. However, it is understood that NACIL has now requested the Government to double the package.
17/11/08 MSN

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Categories: NACIL Nov 2008