Mumbai: India's national carrier Air India, has secured a $450-500-million bridge loan from Deutsche Bank and Investec Bank for five of its Boeing Dreamliners.
Air India has seven Dreamliners in its fleet, out of 27 it has ordered, which it hopes will help the airline to turnaround financially. It has received $90-m loan against each Dreamliner, a source said. The airline opted for a one-year short-term loan till it secured long-term financing from lenders. The delivery of these five aircraft will be taken between July and October, the official added.
Sources said three of the Dreamliners were funded by British bank Investec and two by Deutsche Bank. "We have got financing for all the five Dreamliners and have mandated Deutsche Bank and Investec Bank for arranging the bridge loan for this," a senior Air India official told a news agency here on Thursday.
25/07/13 Economic Times
To Read the News in full at Source, Click the Headline
Air India has seven Dreamliners in its fleet, out of 27 it has ordered, which it hopes will help the airline to turnaround financially. It has received $90-m loan against each Dreamliner, a source said. The airline opted for a one-year short-term loan till it secured long-term financing from lenders. The delivery of these five aircraft will be taken between July and October, the official added.
Sources said three of the Dreamliners were funded by British bank Investec and two by Deutsche Bank. "We have got financing for all the five Dreamliners and have mandated Deutsche Bank and Investec Bank for arranging the bridge loan for this," a senior Air India official told a news agency here on Thursday.
25/07/13 Economic Times
