Monday, July 30, 2018

Air India gets default notices from banks, aircraft lessors - Business Standard

Three banks and two aircraft leasing firms have served default notices on Air India over the last few weeks, the Business Standard newspaper reported on Monday, raising concerns about the government-owned carrier’s state of finances and credit-worthiness.

San Francisco, United States-based Wells Fargo Trust Services and UAE's state-owned Dubai Aerospace Enterprise (DAE) have sent letters of demand for pending rental payments, the newspaper said, citing sources.
DAE declined to comment on the report. Air India was not immediately available to comment, while Wells Fargo could not be reached outside usual U.S. business hours.

Three lenders from a 22-bank consortium have also written to Air India raising concerns that the company is turning into a non-performing asset, Business Standard said.
30/07/18 Reuters
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