Air India secures $500 million funding for five Boeing 787 Dreamliners

July 25, 2013 Comments Off on Air India secures $500 million funding for five Boeing 787 Dreamliners 292 Views

by Devesh Agarwal

According to a PTI report, Air India has tied up with Deutsche Bank and Investec Bank to raise up to $500 million as bridge loans to take the delivery of five Boeing Dreamliners, according to airline sources. India’s flag carrier had invited bids for this on June 26.

A bridge loan is normally a short term loan of six to twelve months used to meet immediate payment commitments to the airframer until a long-term financing such as sale and lease back is arranged.

The five Dreamliners are expected to be delivered between July and October. The 27 Dreamliner order deal is part of the 68 aircraft that the carrier had ordered from Boeing in January 2006, which also includes 777-200LRs, 777-300ERs and 737-800s.

About Devesh Agarwal

A electronics and automotive product management, marketing and branding expert, he was awarded a silver medal at the Lockheed Martin innovation competition 2010. He is ranked 6th on Mashable's list of aviation pros on Twitter and in addition to Bangalore Aviation, he has contributed to leading publications like Aviation Week, Conde Nast Traveller India, The Economic Times, and The Mint (a Wall Street Journal content partner). He remains a frequent flier and shares the good, the bad, and the ugly about the Indian aviation industry without fear or favour.

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