Air India debt restructuring plan rejects by lenders

Victoria
By Victoria January 11, 2012 13:00

Air India debt restructuring plan rejects by lenders

A consortium of banks with exposure to state-owned Air India, led by State Bank of India and including IDBI and Bank of Baroda, has rejected a proposal to convert 60% of the carrier’s $4 billion debt into long-term loans and accept the balance in equity. Given the airline’s unprofitability, the deal is very unappealing to its investors.

Victoria
By Victoria January 11, 2012 13:00
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