Air India is selling 2 Dreamliners to raise $250 million

Air India has put two more of Dreamliners on sale. This move is made by the state owned air carrier to raise $250 million for the repayment of short-term loan availed earlier for purchasing these planes.

The aircarrier is looking forward to lease back these two Boeing 787-800s under an operating lease for a period of up to 12 years with a three-year extension option.

Reportedly, hese two aircraft were delivered to Air India between November last year and January this year.

Currently, the airline has 23 Dreamliners in its fleet and the airline has already sold and leased back the remaining 21 Dreamliners under the SLB arrangement.

The sale and lease back transaction will be supported by the Government of India guarantee in favour of the bank/ institution/lessor, according to the document.

The guarantee will cover the lease rental obligation during the lease term and may include certain breakage costs and re-delivery conditions, the airline said in a statement.