AIR IN­DIA TO BUY FOUR DREAMLINERS

SP's Airbuz - - News Briefs -

Na­tional car­rier Air In­dia is look­ing for in­terim fi­nanc­ing of around 3,100 crore to buy four 787 Dream­liner air­craft from US aero­space ma­jor Boe­ing and has in­vited of­fers from banks and fi­nan­cial in­sti­tu­tions to ar­range bridge fi­nanc­ing of up to $470 mil­lion for 15 months. The air­line plans to in­duct these four planes be­tween July and Oc­to­ber this year. These planes are part of the 27 air­craft or­dered from Boe­ing in 2006. Of this, Air In­dia has so far bought 23 Dreamliners. As part of its fleet ex­pan­sion plan, Air In­dia had in 2006 placed or­ders with Boe­ing for 68 air­craft which in­cluded 27 Dreamliners, 15 777-300ER, eight 777200LR and 18 737-800. The air­line has of­fered air­craft as se­cu­rity for avail­ing the short-term loan. There would be no govern­ment guar­an­tee for the loan, Air In­dia has said in the doc­u­ment. Ac­cord­ing to the in­vi­ta­tion of of­fer doc­u­ment, the bridge loan fa­cil­ity will be re­paid on con­clu­sion of a Sale and Lease Back (SLB)/out­right pur­chase ar­range­ment, which is al­ready un­der con­sid­er­a­tion. Un­der the SLB ar­range­ment, the seller of an as­set leases it back from the pur­chaser for a long term. Air In­dia has sold 21 planes of the 23 Boe­ing 787 air­craft, and took them back un­der the SLB ar­range­ment.

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