The US Export-Import Bank (Exim Bank) has approved guarantees up to $1.3 billion to Air India to fund the purchase of 27 787s.
The Indian government is meeting on October 22 to decide on the whether the 787 purchase is even going ahead.
The Exim Bank board of directors has also approved a $2.1-billion preliminary commitment to support the aircraft deliveries from Boeing to Air India. The preliminary commitment could result in a loan guarantee. “Upon approval of the conversion of the preliminary commitment into a final commitment, the total transactions will support the export of 30 Boeing aircrafts to the state-owned, India’s national carrier,” Exim Bank said in a release on September 30.