State-owned carrier Air India has put on sale nine of its 21 Dreamliners (B787-800) to raise over Rs 7,000 crore to fund acquisition of new aircraft and also for repayment of the bridge loan availed earlier for purchasing these Boeing 787-800s.
These nine planes were inducted into the national carrier's fleet between March 2014 and June this year.
Air India would also lease back these nine B787-800 under an operating lease for a period of up to 12 years with a three-years extension option, the airline said in an Invitation of Offers document.
Under a Sale and Lease Back (SLB) arrangement, the seller of an asset leases it back from the purchaser for a long-term period and continues to use it without actually owning it.
The airline has already sold and leased back the remaining 12 Dreamliners under the SLB arrangement. Air India intends to finance its aircraft through direct purchase/operating sale and lease back, proposed to use the proceeds of the facility for purchase of aircraft and repayment of bridge loan taken for acquisition of nine 787-800 planes, the document said.
09/10/15 PTI/Business Today
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These nine planes were inducted into the national carrier's fleet between March 2014 and June this year.
Air India would also lease back these nine B787-800 under an operating lease for a period of up to 12 years with a three-years extension option, the airline said in an Invitation of Offers document.
Under a Sale and Lease Back (SLB) arrangement, the seller of an asset leases it back from the purchaser for a long-term period and continues to use it without actually owning it.
The airline has already sold and leased back the remaining 12 Dreamliners under the SLB arrangement. Air India intends to finance its aircraft through direct purchase/operating sale and lease back, proposed to use the proceeds of the facility for purchase of aircraft and repayment of bridge loan taken for acquisition of nine 787-800 planes, the document said.
09/10/15 PTI/Business Today
