New Delhi: As part of the financial restructuring and turnaround plan, national carrier Air India will use the funds generated from the sale of five Boeing 777s to Abu Dhabi based Etihad Airways and that from carrying out sale-leaseback of its Dreamliners 787s as proceeds to pay off its loans.
The sale of five Boeing 777-200 Long Range aircraft to Abu Dhabi-based Etihad Airways is estimated to fetch $336.5 million for the ailing national carrier. They would start operating under Etihad flag from April.
Air India said it could raise about $840 million by way of sale of its seven B-787s Dreamliner planes and lease them back. It intends to pay off the bridge loans taken against these aircraft by using the funds, officials in the Civil Aviation Ministry said.
Air India has mandated the leaseback arrangement with Investec Bank for four Dreamliners and three with Deutsche Bank. It is scheduled to get six more Dreamliners this year.
16/02/14 Sujay Mehdudia/The Hindu
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The sale of five Boeing 777-200 Long Range aircraft to Abu Dhabi-based Etihad Airways is estimated to fetch $336.5 million for the ailing national carrier. They would start operating under Etihad flag from April.
Air India said it could raise about $840 million by way of sale of its seven B-787s Dreamliner planes and lease them back. It intends to pay off the bridge loans taken against these aircraft by using the funds, officials in the Civil Aviation Ministry said.
Air India has mandated the leaseback arrangement with Investec Bank for four Dreamliners and three with Deutsche Bank. It is scheduled to get six more Dreamliners this year.
16/02/14 Sujay Mehdudia/The Hindu
