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Our Bureau

New Delhi, Sept. 28

Indian has secured a loan of $540 million from the German national bank KFW to pay for the delivery of 10 new Airbus aircraft. The Airlines Chairman and Managing Director, Dr Vishwapati Trivedi, told newspersons that the loan had been taken for a 15-year period. "The loan covers only those aircraft that the airline will be receiving till early 2008. We will again negotiate with banks to fund the acquisition of the remaining 33 aircraft being purchased," Dr Trivedi said.

The airline has already signed an agreement with the European aircraft manufacturer to purchase 43 Airbus aircraft at an estimated cost of more than Rs 9,000 crore.

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