Tata Group to raise $1.8bn for Air India modernisation plan

The Tata Group is planning to raise around $1.8 billion in working capital loans for Air India as a part of its airline modernisation plan. According to sources, the capital raised will be used for daily operations, aircraft rentals, and refurbishment, among other things. The Group has ambitious plans for the newly privatized airline with fleet and network development, aircraft refurbishment, digitisation, etc. Air India has accumulated huge losses over the years with a loss of about $1.1bn in FY22 alone. Tata’s plan is to re-brand Air India as a global airline at par with competitors like Qatar and Emirates and