Air India seeks Rs 1,100 cr loan to modify planes for PM, President, VP

December 10, 2017 16:14

Disinvestment-bound Air India is seeking loan worth over Rs 1,100 crore for modification of two Boeing aircraft scheduled to be acquired next month for ferrying VVIPs, according to an official document.

The two Boeing 777-300 ER aircraft are to be delivered in January 2018 and the cost for "modification in its (planes) interior configuration" is estimated to be $180 million. At current exchange rates, the amount will translate to over Rs 1,160 crore.

These planes will be used to ferry the president, vice president and prime minister.

Air India has a debt burden of more than Rs 50,000 crore and these loans would further increase the debt level.

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