Banks queue up for loan to IA

New Delhi: Eight banks and financial institutions are in the race to provide loan assistance to Indian Airlines for its pre-delivery advance payments (PDP) towards the acquisition of 43 aircraft from Airbus Industrie.
Official sources told Business Line that among the banks that have responded to the airlines request include State Bank of India, ICICI and Standard Chartered Bank.The airline is seeking close to $145 million to make the PDP payment for purchase of 19 Airbus A-319, 20-A-321 and four A-320 aircraft. The entire deal is valued at Rs 9,890 crore.
04/03/06 Sify

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