Air India to get only 60% of promised equity infusion for first year
Mihir Mishra: New Delhi, Dec 07 2012, 00:51 IST
banks and approach the banks for loans after the repayment of a part of short-term debt through accruals of the bond issue by mid-December.
“Now, the airline is looking at the option of servicing its high-cost dues, which attracts an interest rate of 15 to 16 per cent, through a lower interest rate bank borrowings. With the repayment of a part of Air India’s short-term debt, they will get a window of around Rs 1,700 crore more borrowings from banks,” said the official.
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