Deutsche Bank has emerged as the front-runner to offer an $850 million (Rs. 4,200 crore) loan to Air India to fund the delivery of 27 Boeing 787s, As an alternative, the cash-strapped flag carrier has also lined up international leasing companies that are willing to buy the aircraft in sale-and-leaseback deals. After the Comptroller and Auditor General of India (CAG) said Air India’s proposal to buy 111 aircraft, including 27 787s, was risky, the government is having a rethink on purchasing the 787s. A group of ministers will meet this month to make a final decision on the purchase of the aircraft. Other Indian and international financial institutions were in the fray to offer Air India a loan. The names of these firms haven’t been disclosed.
Air India 787 financing race – Deutsche Bank the front runner
