Hyderabad, Oct. 15 -- : Standard Chartered and Bank of India have jointly announced the successful closure of a $215 million term loan facility to AI Fleet Services IFSC Limited (AIFS), a leasing arm of Air India based in GIFT City.
The 7-year amortising loan will finance six Boeing 777-300ER aircraft, which AIFS will lease to Air India as part of the airline's ongoing fleet renewal and global expansion strategy.
Air India is undergoing a fleet renewal and expansion program 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 ("MLAB...