A major chunk of these funds will go into repayment of the bridge loan availed earlier for purchasing these Boeing 787-800s, airline sources said.
1. Under a Sale and Lease Back (SLB) arrangement, the seller of an asset leases it back from the purchaser for a long-term period and continues to use it without actually owning it.
2. Air India has 131 aircraft in its fleet, consisting of Boeing, Airbus and ATR planes as well as CRJs. Of these, 21 are Boeing 787-800s.
3. The total proceeds, about Rs 6,000 crore will be used for repayment of the bridge loan taken against these planes at the time of acquisition while the remaining Rs 1,000 crore will be utilized for other purposes.

Latest News  from Business News Desk