Air India to buy 3 Boeing 777-300ERs

Air India is looking to raise loans worth US$535 million to finance acquisition of three Boeing aircraft, including two aircraft that will be used for transporting VVIPs. Out of three

aircraft, two are to be acquired in January 2018. However, the disinvestment-bound carrier has reduced the loan amount by around US$ 20 million in less than three weeks after floating a tender. The delivery of three B777-300 ERs is scheduled to be completed in February next year, with two expected to be bought in January. As per the purchase agreement with Boeing, Air India is to buy 15 B777-300 ER aircraft and it has already taken delivery of 12. At present, the national carrier has a fleet of 115 airliners.