MUMBAI: Japanese lender SMBC on Wednesday said the Tata Group-owned Air India has borrowed USD 120 million from it for purchasing a wide-body aircraft from Airbus. The transaction has partly financed Air India’s purchase of an A350-900 aircraft from Airbus, which was delivered in October 2023, according to an official statement.
SMBC said this is a secured debt facility through its Singapore branch, while Air India’s GIFT City-headquartered arm AI Fleet Services is the borrower.
The purchase is part of the mega announcement by the Tatas to buy a total of 470 aircraft from Boeing and Airbus, and AI has also contributed equity.
