National carrier Air India has tied up with Deutsche Bank and the British lender Investec Bank to raise up to $500 million to take the delivery of five Boeing Dreamliners, according to airline sources.
“We have got financing for all the five Dreamliners and have mandated Deutsche Bank and Investec Bank for arranging the bridge loan for this,” a senior Air India official told PTI here today.
The flag carrier had on June 26 invited bids from banks and financial institutions to arrange bridge finance of up to USD 500 million to pay for five Boeing 787s.
A bridge-loan is typically used to meet payment commitments until a long-term financing is arranged.
Full report here Economic Times