Hyderabad, Oct. 15 -- Standard Chartered and Bank of India have jointly announced the financing of USD 215 million term loan to AI Fleet Services IFCS Limited (AIFS), a leasing subsidiary of Air India, based in the Gujarat International Finance Tec-City (GIFT City).
AIFS has entered into a 7-year amortising term loan facility for financing of six Boeing 777-300 ER aircraft, it will lease the aircraft to Air India. Air India is undergoing a fleet renewal and expansion programme to support its transformation into a world-class global airline.
Air India currently serves 55 domestic and 45 international destinations.
Both Bank of India and Standard Chartered also jointly underwrote the transaction as Mandated Lead Arranger and Bookrunner ("M...