Mumbai: Deccan Aviation Ltd on Friday said that its proposed fleet expansion is expected to provide a cash flow of approx Rs4.5bn (US$100mn) over a period of 15 months and contribute to its profits. The company stated that this will also help the Company in developing a relationship with European Bank for aircraft funding.
The company stated that pre-delivery payments for the 60 Airbus A-320 aircrafts have been funded by Indian Public Sector Banks for which security assignment has been provided. Air Deccan said that it had assigned the aircraft purchase contract in favour of a special purpose Company controlled and funded by a consortium of European Banks for a consideration of US$100mn payable to the company in four tranches over a period of 15 months.
13/10/06 India Infoline.com
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Friday, October 13, 2006
Deccan fleet expansion to generate cash flow of Rs4.5bn
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