Tata Eyes Rs 15,000 Crore Air India Working Capital Debt: Report
- The Tata group is in talks with banks to borrow Rs 15,000 crore to resuscitate AirIndia, which it purchased from the government last year.
- According to Economic Times, the funds will cover aircraft leases, fleet refurbishment, daily air operations and losses, and IT upgrade.
- According to another source, the loan would have a three-year duration with a yearly reset rate between 7.5 and 8%.
- Air India lost Rs 83,916 crore till March 2021. FY22 lost Rs 9,556.5 billion.