Mumbai : State-run Air India is looking at mopping up a bridge loan of over Rs 1,400 crore to finance the delivery of two more Dreamliners, reports PTI.
The aircraft, for which it has sought the bridge financing, are to be delivered in the next two months, according to the bid document posted on the national carrier’s website. A bridge-loan is used to meet payment commitments until a long-term financing is arranged.
The need for loan came as the government has refused to infuse a part of the Rs 30,000-crore bailout package it had promised by FY 2019-20, this fiscal. Cash-strapped Air India is already sitting on a debt pile of over Rs 35,000 crore and accumulated loss of over Rs 27,000 crore.