Air India in ‘talks’ with banks to raise funds

Air India is in talks with banks to borrow approximately INR 30 billion to meet upcoming aircraft order payments, according to a report in Business Standard. Quoting an unnamed State Bank of India executive, the report read: “Talks were underway with multiple lenders and relate to the order for 470 aircraft placed by Air India in February. The airline intends to purchase outright the 70 widebodies included in the order, which includes planes from both Boeing and Airbus, while planning to secure the 300 narrowbodies on a sale/lease-back basis.” The airline has already made a pre-delivery payment to Boeing for the