Mumbai: Troubled national carrier Air India has repaid Rs 5,000 crore of short-term loans it owed to a clutch of state-owned banks in November, and is expected repay the remaining part of its short-term debt, amounting to almost Rs 2,400 crore, by the end of this month.
Though the payments were delayed by a couple of months, lenders are happy that the airline is making steady financial progress.
As per the restructuring exercise entered into with banks earlier in March, the airline was supposed to repay short-term loans of Rs 7,400 crore by September 30. This was delayed because of the delay in government guarantees on it’s bonds.
09/12/12 mydigitalfc.com
