Air India has tied up financing for 12 of the 27 Dreamliners it has ordered from Boeing and decided to have a long-term agreement with its American engine manufacturer GE for overhaul and repair of GEnX engines powering these aircraft.
A meeting of the Air India Board on Tuesday informed that bridge financing for the 12 aircraft has been tied up with Deutsche Bank and Investec Bank, airline sources said. The list price of one Boeing 787-8 is about $212 million.
Regarding the 'on point agreement' with GE Aviation that produces the GEnX engines, the sources said the 12-year accord, which was approved by the Board today, would not only be for repairs and overhaul of these sensitive engines, but the contract would also take care of exigencies like foreign object damage (FOD).
While for the first three years, the engines would be flown to the US or Malaysia for repairs, the work would then onwards be done at the new Maintenance, Repair and Overhaul (MRO) centre coming up at Nagpur at a cost of Rs 400 crore.
15/10/13 Business Today
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A meeting of the Air India Board on Tuesday informed that bridge financing for the 12 aircraft has been tied up with Deutsche Bank and Investec Bank, airline sources said. The list price of one Boeing 787-8 is about $212 million.
Regarding the 'on point agreement' with GE Aviation that produces the GEnX engines, the sources said the 12-year accord, which was approved by the Board today, would not only be for repairs and overhaul of these sensitive engines, but the contract would also take care of exigencies like foreign object damage (FOD).
While for the first three years, the engines would be flown to the US or Malaysia for repairs, the work would then onwards be done at the new Maintenance, Repair and Overhaul (MRO) centre coming up at Nagpur at a cost of Rs 400 crore.
15/10/13 Business Today
