Air India to get loan of Rs. 1500 Crore from Bank of India
Updated:7 years, 11 months ago
New Delhi, Nov 12 (ANI): The Bank of India will provide loan of Rs 1500 Crore to debt laden Air India in installments which will be withdrawn from next week. The loan amount will be utilized for the working capital, a senior Air India official told ANI. It’s the second time in last two months that the airline has received funding from the public sector lender. Earlier, Punjab National Bank provided loan to Air India. The airline is battling hard to reduce the debts by selling non-core assets and expanding operations. Air India is under the debt of 50,000 Crore. The carrier flies to 44 overseas and 65 domestic destinations.
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