Air India gets another loan of Rs 1,500 crore from Bank of India

Air India has got the loan worth Rs 1,500 crore from Bank of India to meet urgent working capital needs. The tender for this loan was laid by Air India less than a month ago and soon it found source for capital needs.

The debt-laden airways has received second loan from a public sector lender in recent months. To clear its debts the airways is trying every possible measure including selling of non-core assets and expanding operations.



The airline had borrowed around Rs 3,250 crore as short tenure loans from two lenders -- IndusInd Bank and Punjab National Bank, sources had said. This loan too was for meeting urgent working capital needs and the tender was floated in September.

Air India is surviving on taxpayers’ money under the bailout package extended by the previous UPA government in 2012.