November 23, 2024 03:40 (IST)
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AI raises 300 million USD loan to meet working capital requirements
New Delhi, Dec 2 (IBNS) Air India has concluded agreement with Citi Bank or State Bank of India for loan of USD300 million External Commercial Borrowing (ECB) to meet its working capital requirements, especially towards aircraft spare payments.
The said amount is being drawn in installments.
The ECB loan has an average maturity of 3 years and is repayable over five years in installments.
This information was given by Minister of State for Civil Aviation, Mahesh Sharma in a written reply to a question in Rajya Sabha.
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