AI extends date for soft loans

Mumbai: Having failed to receive suitable offers for long-term low interest loans to refinance its aircraft purchases, Air India today said it had extended the deadline for submission of proposals to July 16.
NACIL, which runs Air India, had last month invited Request for Quotations (RFQ) for long-term loan of $ 1150 million to refinance the purchase of 21 aircraft and spares at low interest rates.
Earlier, the last date for submitting the RFQ was June 21, which has now been extended till July 16, according to airline sources.
The last of the 21 Airbus aircraft, mostly of the A-320 family, was delivered in April this year.
The earlier loan for aircraft purchase was taken from scheduled Indian banks and financial institutions with 100 per cent government guarantee.
24/06/10 Economic Times

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Categories: NACIL Jun 2010