Air India is seeking a $500 million loan to purchase four of the Boeing 787 Dreamliners they have ordered. They will then sell the aircraft and lease them back according to a document released by the airline.
(see the document HERE)
This strategy is not a surprise as they were rumored to be doing this 2 months ago. In fact, the Indian based airline plans to sell all 27 787 planes it has ordered and lease them back as part of their financial turnaround plan.
Air India has $4.2 billion in debts and has been struggling to turn any profit for some time.