Air India seeks $2.1bn short-term loan

Air India is planning to secure another short-term loan of $2.1 bn from Bank of India (SBI) and Bank of Baroda (BoB) to refinance its current debt as a part of airline’s short-term strategy to refinance its existing debt before it embarks on long-term borrowing solutions for its future business needs. This loan has a duration of one year. Last year, Air India had secured a loan of INR 10 bn ($120 million) from SBI and INR 5 bn ($60 million) from BoB at an interest rate of 4.25%. Because Reserve Bank of India has since raised its repo rate,