News Karnataka
Friday, February 23 2024
Business

Air India seeks Rs 1,000 cr short-term loan

Photo Credit :

air india
New Delhi: National passenger carrier Air India has invited bids from financial institutions and banks for a Rs 1,000-crore government guarantee-backed Short Term Loan (STL).

The airline has called for financial bids by June 13.

“Air India is inviting bids for Government Guaranteed INR STL totalling to Rs 1,000 crore to meet its urgent working capital requirements,” the airline said in a tender document issued on June 5.

“The tenure of the loan will be for one year (renewable) from the date of availing the STL. The amount of Rs 1,000 crore will be drawn in June’ 18 in one or more tranches.”

“The government of India guarantee is presently valid for one year.”

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp