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Our Bureau

Mumbai, Aug. 12 National Aviation Company of India Ltd (NACIL) announced on Tuesday that it has signed a pre- delivery finance loan facility for a sum of $214.118 million.

The lead arrangers of the facility are Bank of Scotland and Deutsche Bank. The co-arrangers are ING Bank and Natixis Transport Finance, a statement from the operators of Air India said.

The loan has been signed for three 777-200LRs and five 777-300ERs aircraft to be delivered in 2009 and 2010. The facility was signed in London on July 30, 2008. NACIL will repay the facility from the delivery financing to be concluded for the aircraft.

NACIL has 111 aircraft on order of which 38 have been delivered so far. This comprises a mix of Airbus and Boeing aircraft.

More Stories on : Airlines | Overseas Borrowings

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