AI gets $1.3-bn US Exim Bank support for 787 deal

Mumbai: The US Export-Import Bank (Exim Bank) will give guarantees up to $1.3 billion to Air India to fund the purchase of 27 Dreamliner Boeings 787 even as the government is yet to give its final nod. The bank which funds such purchases of machinery by non-American companies to boost exports, posted the news on its website on September 30.
A group of ministers, led by finance minister Pranab Mukherjee will meet on October 22 to decide on the Dreamliner purchase, even as the Comptroller and Auditor General (CAG) raised questions on September 7 on AI’s aircraft purchase plans, saying orders were placed based on unrealistic assumptions of growth. The 27 Dreamliners are part of a total of 111 planes ordered by Air India and the erstwhile Indian Airlines from Boeing and Airbus respectively.
06/10/11 Debabrata Das/Financial Express

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Categories: Air India Oct 2011, Foreign Oct 2011, New Oct 2011