Air India to raise ₹2,500 crore via short-term loan to repay vendors

Debt-laden Air India Ltd plans to raise up to ₹2,500 crore through a short-term loan (STL) from domestic lenders by the end of this month, a senior airline official said on Monday.

Proceeds of the loan would be utilized to repay a portion of the dues the airline owes its vendors, including oil marketing companies (OMCs), said the official, requesting anonymity.

The loan would carry a sovereign guarantee, the official said.