Mumbai: Japanese lender Sumitomo Mitsui Banking Corporation (SMBC) on Wednesday said that the Tata Group-owned Air India has borrowed Rs 997 crore ($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.
