ICICI BANK WINS AIR INDIA MANDATE

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By TESTCustomwebLP TESTCustomwebLP January 24, 2011 15:42

ICICI BANK WINS AIR INDIA MANDATE

ICICI Bank has won a mandate to refinance loans for Air India to purchase 21 A320 aircraft. The airline’s board has also approved delivery financing for one 777-300ER and one GE-90 spare engine with funding amounting to $475 million from the US Ex-Im Bank. Citi Bank will provide 85% of the finance, while the rest will be sourced from Stanchart.

The board also approved the disposal of four A310 aircraft with simulators and dry lease of A330s besides ratifying the decision to continue dry lease of B-737-800 for Air India Express.

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By TESTCustomwebLP TESTCustomwebLP January 24, 2011 15:42
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