Disinvestment-bound Air India is looking to raise short-term loans of Rs 6,150 crore to repay its aircraft debt towards six of its Boeing 787 and one Boeing 777 planes.
Notably, the government has agreed to guarantee these loans, which comes as a huge relief to the loss-making airline in its effort to meet financing requirements prior to getting privatised.
The airline is approaching seven tranches of foreign currency repayments — three of Rs 790 crore each, three of Rs 925 crore each and one of Rs 1,005 crore. In the tender document, the national carrier has asked banks to submit their bids by November 20.
