Indian to raise $530 mn, buy aircraft

Mumbai: State carrier Indian is planning to raise around $530 million (Rs 2,350 crore) as long-term loan funds for financing the purchase of the first ten of its newly ordered Airbus aircraft.
‘‘We are seeking offers from Indian and foreign banks and FIs for long-term loan funds of around $530 million for financing the delivery payments for purchase of first ten Airbus aircraft and related equipments which will be delivered between October 2006 and March 2008,’’ a senior Indian official said.
In a bid to spread its wings in the growing Indian aviation market, it had recently signed a $2 billion deal with Airbus Industrie for purchasing 43 aircraft including 19 A319, four A320 and 20 A321 which are scheduled to be delivered between October 2006 and March 2010.
26/06/06 Zeeshan Shaikh/Indian Express

To Read the News in full at Source, Click the Headline