by Devesh Agarwal
According to a PTI report, Air India has tied up with Deutsche Bank and Investec Bank to raise up to $500 million as bridge loans to take the delivery of five Boeing Dreamliners, according to airline sources. India’s flag carrier had invited bids for this on June 26.
A bridge loan is normally a short term loan of six to twelve months used to meet immediate payment commitments to the airframer until a long-term financing such as sale and lease back is arranged.
The five Dreamliners are expected to be delivered between July and October. The 27 Dreamliner order deal is part of the 68 aircraft that the carrier had ordered from Boeing in January 2006, which also includes 777-200LRs, 777-300ERs and 737-800s.
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