New Delhi, April 07: Moving ahead with its fleet expansion plan, cash-strapped Air India has sought a long-term loan of USD 475 million from banks and financial institutions to acquire three long-haul Boeing-777s.
A day after its Board met in Mumbai with four new Directors, National Aviation Company of India Limited (NACIL), which runs the national carrier, invited offers from Indian and foreign banks and financial institutions asking them to submit their bids by May 10, airline sources said.
NACIL had previously tied up with the institutions for financing a 50-aircraft acquisition project of which the national carrier has so far taken delivery of 17 new planes in three tranches of seven, three and seven, they said.
The entire project comprises purchase of eight Boeing 777-200 (Long Range), 15 B 777-300 (Extended Range) and 27 B- 787 Dreamliner aircraft fitted with GE engines.
–Agencies