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Air India raising ₹6,150 crore short-term loans to repay debt

Air India is raising Rs 6150 crore in short-term loans to refinance foreign currency bridge loans taken to buy seven Boeing 787 and 777 aircraft.

Air India is looking to repay its aircraft debt towards six Boeing 787 Dreamliners and one Boeing 777, Aviators Buzz reported. Air India has floated a bid document for the same which says that the proceeds of the loan, which would carry a sovereign guarantee, would be utilised to refinance foreign currency bridge loans taken to buy seven Boeing 787 and 777 planes. It is also offering aircraft such as Boeing 787 and 777 as collateral for the loan, which will be repaid in a year, the report said.

News source ~ Tribune India