ICICI Bank gets mandate for Air India loan refinance

Air India has given ICICI Bank the mandate to refinance loans to purchase 21 Airbus A 320 aircraft worth Rs 5,500 crore, it said late on Wednesday.

January 20, 2011 / 10:50 IST

26 Aug, 2025 12:21

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Air India has given ICICI Bank the mandate to refinance loans to purchase 21 Airbus A 320 aircraft worth Rs 5,500 crore, it said late on Wednesday.

Air India's board also approved delivery financing of three

B 777-300 ER aircraft and one GE-90 spare engine with US Exim support worth USD 475 million. Citibank has got the mandate to finance 85% of the amount, with Standard Chartered securing the rest.

Air India will also dry lease 10 Airbus A 320 aircraft and two Airbus A 330 aircraft to replace its ageing fleet, it added.

first published: Jan 20, 2011 10:02 am

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