Air India is looking to secure a new credit facility worth $832 million, Business Standard reports. The company will use the loan to finance its acquisition of Boeing 787 airplanes.
The new credit line will cover 85% of the plane’s purchase cost and mature in 12 years. The company expects to get U.S.’s Exim Bank’s guarantee for the financing. The company may receive seven Boeing 787 planes by March 2012.
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