According to a news story published today, Saturday, the enormous Indian “Tata” group is negotiating on a global scale with a number of banks to get a capital loan for Air India Limited Air of 150 billion rupees ($1. 8 billion).
In its report, the Indian newspaper “The Economic Times” quoted a source, as saying that these funds will be directed to cover the daily operating costs, renew the company’s fleet of aircraft, pay rents, and develop information technology operations.
According to a different source, the loan will have a three-year term with a 7.5% to 8% annual review.
According to a banking official, “Air India” will be significantly impacted by the extensive liquidity system in the Indian banking system and the high cost of borrowing.
According to the Bloomberg News Agency, the CEO of “Air India” stated earlier this month that the firm plans to triple its present fleet size by doubling it.
To prevent bankruptcy, the Indian “Tata” is negotiating a loan of $1.8 billion for “Air India.”
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