AI team to finalise $6-b US Exim loan

A team from Air India will be going to Washington soon to formalise documentation for availing itself of a $6-billion loan from the US Exim Bank for purchase of Boeing aircraft.

“The team will work on preparing all operative documents for Air India and Air India Express including the master lease agreement that would see the aircraft being leased to a Special Purpose Vehicle from which they would join the respective airlines,” sources told Business Line. The loan constitutes about 85% of the cost of the aircraft with the airline tying up the rest of finances from commercial banks.

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