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Transaction has partly financed Air India’s purchase of an A350-900 aircraft from Airbus, which was delivered in October 2023, according to an official statement
In a statement, SMBC said the loan is a secured debt facility through its Singapore branch, while Air India's GIFT City-headquartered arm AI Fleet Services is the borrower.
Get latest articles and stories on India at LatestLY. Japanese lender SMBC on Wednesday said the Tata Group-owned Air India has borrowed USD 120 million from it for purchasing a wide-body aircraft from Airbus. India News | Air India Borrows USD 120 Mn from Japan's SMBC to Buy Airbus Plane.
The purchase is part of the mega announcement by the Tatas to buy a total of 470 aircraft from Boeing and Airbus, and AI has also contributed equity
India Business News: Air India has borrowed USD 120 million from SMBC, a Japanese lender owned by the Tata Group, for the purchase of an Airbus A350-900 aircraft. This tra