New Delhi: Air India has spent $1.80 billion in acquiring 16 Boeing 787 Dreamliner aircraft in the last three financial years. According to Minister of State (Civil Aviation) G.M. Siddeshwara, Air India has entered into a sale and lease-back arrangement for seven of its Boeing 787 aircraft. “Funding for the same has been arranged by way of Exim Bank-backed loans, with participation of junior lenders,” the minister informed the Lok Sabha. “The remaining aircraft have been acquired under a short term bridge financing facility arranged by various Indian and foreign banks.”
Air India has also leased out commercial property at its iconic landmark headquarters at Nariman Point in Mumbai to raise funds. Air India has leased out an area of 73,395.07 square feet (sq. ft) to SBI, TCS, Bharatiya Mahila Bank, Bank of India and Kashmir government emporium at its Nariman point building.