National Aviation to get $214 mn loan to buy aircraft

August 12th, 2008 - 9:30 pm ICT by IANS  

Mumbai, Aug 12 (IANS) The state-owned National Aviation Co of India (NACIL), which runs Air India, announced Tuesday that it has signed a pre-delivery finance loan facility for $214.12 million for purchase of eight aircraft. The three Boeing 777-200LRs and five Boeing 777-300ERs will be delivered in 2009 and 2010 respectively, said a statement issued by NACIL.

“The lead arrangers of the facility are Bank of Scotland and Deutsche Bank whereas the co-arrangers are ING Bank and Natixis Transport Finance,” the statement said.

The loan will be repaid from the delivery financing to be concluded for the aircraft, NACIL said.

Earlier, NACIL ordered 111 aircraft, which include Boeing and Airbus planes. So far, it has taken delivery of 38 aircraft.

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