Nacil to buy 3 planes with StanChart loan

Mumbai: National Aviation Company of India Ltd (Nacil), which runs flag carrier Air India (AI), has tied up with Standard Chartered Bank for a short-term loan of $475 million (Rs 2,138 crore) for acquisition of three Boeing 777-300 extended range aircraft.
“We have got a bridge loan from Standard Chartered to fund our aircraft acquisitions,” an AI spokesperson said. The airline has already acquired one aircraft, and the second one is expected by May and the third will be delivered by July, he said. These airplanes are part of the 111 aircraft order worth $10 billion (Rs 45,000 crore) placed in 2005, which the national carrier ordered after it merged with the erstwhile Indian Airlines in 2007.
14/05/10 Indian Express

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Categories: NACIL May 2010