Air India borrows $120 million from Japan's SMBC to buy Airbus plane
Wednesday, 20 December 2023 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 transaction is part of the Tatas' plan to buy a total of 470 aircraft from Boeing and Airbus. The loan is a secured debt facility through SMBC's Singapore branch, and Air India's GIFT City-headquartered arm, AI Fleet Services, is the borrower. The purchase of the aircraft is a significant step in expanding Air India's aircraft financing business through GIFT City, India's first International Financial Services Centre (IFSC).
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Wednesday, 20 December 2023
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