Home Business Air India Invites Bids For Rs 1,500-crore

Air India Invites Bids For Rs 1,500-crore

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New Delhi: Air India Airbus A-320 Neo gets Water Canon Salute as it lands in New Delhi on Feb 16, 2017. (Photo: IANS) by .
Air India Airbus A-320 Neo gets Water Canon Salute as it lands in New Delhi (Photo: IANS)

National passenger carrier Air India has invited bids from banks for Rs 1,500-crore government guarantee-backed “Short Term Loans (STLs)”….reports Asian Lite News

New Delhi: Air India Airbus A-320 Neo gets Water Canon Salute as it lands in New Delhi on Feb 16, 2017. (Photo: IANS) by .
Air India Airbus A-320 Neo gets Water Canon Salute as it lands in New Delhi (Photo: IANS)

The airline has called for financial bids by October 26.

“Air India is looking for Government Guarantee backed INR STLs totaling up to Rs 1,500 crore to meet its urgent working capital requirements,” the airline said in a tender document.

“The tenure of the loan will be up to June 27, 2018 extendable from the date of availing the STL. The amount… will be drawn in

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