Air India raising 787 delivery bridging loan

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Air India has approached banks for a $225 million 15-month bridge loan to partially fund the delivery of two Boeing 787 Dreamliners, between November and December, until it can put a sale-and-leaseback in place.

The flagcarrier has taken delivery of 21 Boeing 787-800s since placing an order in January 2006 for 27 Dreamliners and 41 B-777s and B-737-800s. All the 787 deliveries to date have been long-term financed via sale-and-leaseback.