NEW DELHI: A consortium of lenders led by State Bank of India (SBI) will soon provide loans to Tata Group for the operations of Air India as well as to retire the airline’s high cost borrowings.
After nearly 70 years, Tata Group on Thursday regained ownership of Air India. With the completion of the deal, the group will own 100 percent stake in Air India, Air India Express and a 50 percent shareholding in AISATS.
Bankers said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline’s requirements.
All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
“Many banks have agreed for refinancing of Air Inida debt to Tatas and the process has begun,” one of the bankers said.
This story is from the New Delhi 28January2022 edition of Millennium Post Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the New Delhi 28January2022 edition of Millennium Post Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Cong's inheritance tax will hit middle, aspirational classes: FM
If Congress comes to power, organised loot and legalised blunder’ will be seen in action, she said in a post on X
Pant shines as DC survives late scare to steal 4-run win against GT
Rishabh Pant virtually sealed his spot as India's first choice wicketkeeper for the T20 World Cup with a belligerent unbeaten halfcentury in Delhi Capitals' narrow four-run win over Gujarat Titans in the Indian Premier League here on Wednesday.
REITs & InvITs mobilise ₹1.3L cr in 4 yrs: RBI data
‘India has been a late adopter of REITs InvITs,’ said an article on State of Economy’ published in RBI’s Bulletin
Himachal CM Sukhu pledges action following attack on college student in Palampur
In the election time, a brutal and shocking attack on a college going girl at Palampur bus stand in full public view has brought the ruling Congress and the BJP in direct conflict even as victims continue to struggle, and also show signs of improvement at PGI Chandigarh.
Supreme Court stays construction of four dams inside Kalesar Wildlife Sanctuary
Court emphasizes dams’ detrimental impact on wildlife and ecosystem and questions the necessity of their construction
Bullet train completion date hinges on pending tenders, says Railways
The Indian Railways is unable to assess the completion date of the country's first bullet train project because all work tenders have not been awarded yet.
Election a ritual in remote Tripura village with no motorable road and electricity
The main problem of the village, which is located around 62 km away from Ambassa, the district headquarters of Dhalai is connectivity
PM waived off loans worth Rs 16 lakh crore of his billionaire friends: Rahul
Congress leader Rahul Gandhi on Wednesday accused Prime Minister Narendra Modi of waiving off loans worth Rs 16 lakh crore of his billionaire friends, and said the country will never forgive him for this \"crime\".
INDIA bloc considering one year, one PM formula: PM
Prime Minister Narendra Modi on Wednesday said the opposition INDIA bloc is contemplating \"one year, one PM\" formula to resolve their leadership issue and added the world will ridicule such an arrangement in the largest democracy.
Akhilesh to contest from Kannauj
Yet again Samajwadi Party has made a change in the candidate’s list for the Lok Sabha elections