Air India floats tender for loan to buy planes for VVIPs. Air India is looking to raise loans worth $535 million to finance acquisition of three Boeing Co. planes, including two aircraft that will be used for ferrying VVIPs, a senior airline official said. Two of the planes will be used by the government for ferrying important officials, a spokesperson said. The planes are part of the historic and much-debated $15-billion 111plane order placed by the airline in 2005-06. They included 68 Boeings and 43 Airbus planes. The Boeings included 15 777s, 12 of which have been delivered. They are deployed into long haul routes like the US.
Issuing a revised tender, the airline has solicited interest from lenders for loan worth up to $535 million, for which two separate term sheets would be inked. At current exchange rates, the loan would be to the tune of around Rs3, 460 crore. As per the purchase agreement with Boeing, Air India floats tender is to buy 15 B777-300 ER aircraft and has already taken delivery of 12 such planes. According to the revised tender document, one term sheet would be for two aircraft that are to be delivered in January next year and the loan amount required is up to $400 million. The figure translates to around $200 million for each plane. The spokesperson said that Air India had placed an order with Boeing for 68 aircraft in 2005. “These B777-300 ER airplanes are the last of the three aircraft to be delivered. They are being delivered on January 18 and February 18 by Boeing. Out of these three airplanes, two will be used by government for VVIP travel,” the spokesperson said in a statement.
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