Air India has spent $1.80 bn on Boeing Dreamliner

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Air India has spent $1.80 billion in acquiring 16 Boeing 787 Dreamliner aircraft in the last three financial years.

According to Minister of State (Civil Aviation) G.M. Siddeshwara, Air India has entered into a sale and lease-back arrangement for seven of its Boeing 787 aircraft.

“Funding for the same has been arranged by way of Exim Bank-backed loans, with participation of junior lenders,” the minister informed the Lok Sabha in a written reply.

“The remaining aircraft have been acquired under a short term bridge financing facility arranged by various Indian and foreign banks.”

Air India has also signed a delay compensation agreement with Boeing in September 2012, as deliveries of some of its aircraft were delayed due to design reasons.