Air India may raise ₹7,000 crore in bond sale to repay existing loans
MUMBAI | NEW DELHI: Air India is likely to raise ₹7,000 crore in a bond sale, the first in a series to repay a portion of the national carrier’s loans, said two people with direct knowledge of the matter. The bonds will be floated by Air India Asset Holdings LtdNSE -0.96 %, the special purpose vehicle that has taken on ₹29,464 crore of Air India’s debt.
Refinancing Air India’s high cost debt could make the airline palatable for potential investors as the government plans to start the process for the sale of Air India by October. There were no bidders when the government attempted to sell the airline with all its debt in May last year.
