Air India Floats Tenders to Raise $ 429 mn

Mumbai: Looking to raise 429 million USD as loans towards advance payment for 22 of the 68 aircraft it proposes to buy from Boeing, Air-India today floated two tenders inviting bids from banks for the purpose.
"We have invited tenders and January 6, 2006 is the last date for submitting bids. By the end of January, we will finalise the bank from where we will take the loan," A-I General Manager S Venkat told PTI here today.
One tender is for raising 306 million USD for A-I, while another seeks to raise 123 million USD for its low-cost subsidiary, Air-India Express.
The Economic Times

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