Air India Receives $200 Million to Finance Three Brand-New Dreamliners
Another round of funding and investment is underway in India, and the amount of money that's being thrown around is no joke. The national carrier announced that it has been loaned $200 million by the country's bank, Bank of India, to purchase three brand-new Dreamliner airplanes.
That's not all. Air India expects to raise an additional $500 million from bridge loans and has received a $288 million tax credit to cover the cost of fuel, simulators, and spare parts. If it all comes through as planned, as many as six new Dreamliners could be in the airline's future.
Currently, Air India already has 13 Dreamliners in its fleet and has ordered a total of 27, so this is not exactly groundbreaking news. It is a huge sign of continued growth, though. It's also an interesting story to follow after news broke back in February that Air India was dissatisfied with the Dreamliner's performance. We suppose this purchase pretty much answers the question of whether Air India doubts Boeing's abilities in the long run.
[Photo: Business Today]