A-I BREAKS COUNTRY CAP, RAISES $100 M ABROAD
Article Abstract:
Air-India (AI) is to tap the international structured debt markets. Its first instalment of $100 million securitised loan is being finalised. ABN-Amro will manage the contract. Under the contract, AI's future tickets receivables will be securitised. The second instalment of loan will be sanctioned depending on the market conditions. AI will establish a special purpose vehicle (SPV) in London. The SPV will have rights over a portion of AI's earnings. Based on this, the SPV will issue bonds to select global investors. The proceeds of the bonds would be given to AI. Repayment will be made from the sale of AI's tickets. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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IA's 50-SEATER ORDER HITS SANCTIONS AIR POCKET
Article Abstract:
The $100 million debt mobilisation plan of Indian Airlines (IA) from the international market has been hit by sanctions imposed by the G8 nations. The loan was being raised for acquisition of aircraft. A consortium led by ANZ Grindlays Bank was to have syndicated the loan. Despite these sanctions, IA has decided to go ahead with the purchase of six 50-seater ATR-42 aircraft at a cost of Rs400 crore. The initial payment will be Rs50-60 crore. This amount will be raised from the allocated Rs125 crore in the 1998-99 budget for aircraft acquisition or from the domestic market. (gsh)
Comment:
Debt mobilization plan of $100 mil from intnl market is hit by sanctions imposed by G8 nations
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GULF LURES A-I, TO EXPAND OPERATIONS IN A BIG WAY
Article Abstract:
Air-India has increased its flights on the India-Gulf route from 18 to 21. It is now offering direct flights from Kozhikode to Dubai and Abu Dhabi. This service was launched in January 1999 following the expansion of the Kozhikode airport runway. It is now offering 2 direct flights from Kozhikode to Dubai and one direct flight from Kozhikode to Abu Dhabi. (ag/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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