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Air India to raise Rs 1,700 crore by selling two aircrafts

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State owned Air India is selling its two Dreamliners (Boeing 787-800) to raise Rs. 1,700 crore for the repayment of short-term loans taken for the purchase of these planes.

The air carrier is also ready to lease these two planes for 12 years with an option of three years extension to this period.

For each aircraft, Air India has fixed a reserve purchase price of Rs 836 crore.

Presently, there are 23 Dreamliners with Air India out of which 21 have already been sold and leased back.

Boeing 787-800 were delivered to Air India between November last year and January this year.

Air India is  also scheduled to take delivery of  four more dreamliners this year.

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