Air India owes around Rs.2,000 crore to oil retailers, and faces accumulated losses worth Rs.22,000 crore but is looking at a financial overhaul. Lenders including State Bank of India and 18 other banks will be repaid Rs.10,500 crore in 10-15 years, or through government-guaranteed bonds. The restructured debt is only one part of the improvement; the airline is also being given time to improve operational efficiency. Operational efficiency is expected to rise from 71 percent to 90 percent within two years.
Twenty seven Dreamliners will be inducted into the Air India fleet and 7,000 Air India staff will be transferred to its maintenance, repair and overhaul divisions. 12,000 staff be transferred to transportation services.
AMSTERDAM, Jan. 4, 2011 — AerCap Holdings N.V. announced today that its subsidiary AeroTurbine signed an amendment to its credit facility. The amendment increases the total commitments available under the credit facility from $328 million to $425 million and allows for additional newer generation aircraft and engine types as eligible collateral under the facility. The credit facility amendment was led by Credit Agricole Corporate and Investment Bank.
British Airways flight BA-143 made an emergency landing in Delhi, India, on March 19th.