The Tatas can expect bank loans to patch up Air India. A consortium of banks that include State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB) and the Union Bank of India are keen to provide loans to the Tata group.
A PTI report on Thursday said they have agreed to provide both term loans and working capital loans. The Tatas have offered Rs 18,000 crore for Air India, including Rs 15,300 crore for Air India’s existing debt and Rs 2,700 crore to be paid as cash to the Centre.
Earlier reports indicated the group is seeking a loan of Rs 23,000 crore that includes re-financing the existing debt and operational purposes.
