Mumbai/New Delhi: Tata group-backed Air India is in talks with commercial banks for around Rs. 3,000 crore loan, which the airline needs to make the down-payment under sale-and-leaseback agreements with lessors, according to people in the know.
The carrier, the sources said, is talking to multiple lenders in connection with the loan. According to a top State Bank of India executive, several lenders will join hands to extend the loan.
A year after coming into the Tata group fold, Air India had in February this year placed an order for 470 planes: 250 with European plane maker Airbus and 220 with the US-based Boeing. This order is the world’s second-largest single-tranche aircraft purchase. The list price of 470 planes is approximately $70 billion.
The order with Boeing is for 190 B737 MAXes, 20 B787s, and 10 B777s aircraft. The Airbus order comprises 210 A320 family and 40 A350 planes. A350, B777, and B787 are wide-body aircraft that have bigger fuel tanks, allowing them to traverse long distances, such as India-North America routes.
09/08/2023 Manojit SahaDeepak Patel/Business Standard
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