Air India has made the pre-delivery payments for its record order of 220 jets with Boeing. In an internal staff communication, the director of finance, Vinod Hejmadi has confirmed the news of pre-payment. “The funds were arranged from multiple banks at a very competitive rate and converted to US dollar at the best rates. We had a very short period to arrange the funds,” Hejmadi said in the letter. Reports suggest that pre-delivery payments can amount to up to 30% of the price of the aircraft. The list price of the 220 Boeing aircraft ordered is valued at $34 billion.

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