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Our Bureau

New Delhi, Feb 12

Indian on Monday signed a contract with German bank KfW IPEX, commissioning it for financing the purchase of the first batch of 10 Airbus A-320 aircraft that the airline is to purchase. The 10 aircraft are to be delivered during this year.

KfW IPEX will lend $500 million to Indian, which is to be paid back over 12 years. The airline has ordered 43 Airbus A-320 aircraft at an estimated cost of more than $2 billion.

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