Saturday, March 04, 2017

Air India to Sell 2 Dreamliners to Raise $250 Million

State-owned carrier Air India has put on sale two more Dreamliners (Boeing 787-800) to raise $250 million for the repayment of short-term loan availed of earlier for purchasing these planes.

The airline would also lease back these two Boeing 787-800s under an operating lease for a period of up to 12 years with a three-year extension option, the airline said in its Invitation of Offers document.

These two aircraft were delivered to Air India between November last year and January this year.

Under a Sale and Lease Back 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 fixed a reserve purchase price at $125 million for each aircraft.

Currently, the airline has 23 Dreamliners in its fleet.
04/03/17 PTI/India West