Air India to raise Rs 1,000 crore this week: Report

Air India will raise close to Rs 1,000 crore in the coming week as part of its fundraising drive of Rs 6,150 crore in short-term loans from lenders, according to a report by Mint quoting sources.

The carrier will use this debt to refinance its more expensive foreign currency loans which it took to buy Boeing 787 and 777 jetliners, two people in the know told the publication.

“The airline has completed raising six of the seven tranches, with the last remaining tranche expected to be completed in the coming week,” one of the people cited above s quoted in the report. These new loans will have a sovereign guarantee, as per the report.