Air India to finalise bridge finance for Dreamliner today

Mumbai: Bridge financing for the first batch of four new Boeing 787 aircraft, also known as Dreamliners, will be finalised by Friday, according to Air India officials.
Air India had invited banks and institutions to arrange bridge financing of up to $500 million to help finance the induction of the Dreamliners, one of which was inducted recently.
The airline will repay the bridge loan by selling and leasing back the aircraft, according to the tender document. “For sale and leaseback of aircraft, we have identified the parties,” said S. Venkat, Director of Finance, Air India. The carrier has already tied up bridge finance for the first two aircraft.
13/09/12 Business Line

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Categories: Air India Sep 2012, Foreign Sep 2012, New Sep 2012