New Delhi: The Tata group is in talks with banks to borrow Rs 15,000 crore to meet Air India’s working capital requirements.
A person related to the department said:
Tata Sons is in talks with several banks to borrow nearly Rs 15,000 crore to meet Air India’s working capital requirements.
Air India currently requires cash for operational requirements such as daily flight operations, losses, aircraft hire and overhauling.
Therefore, Tata Sons is in talks with banks to take a loan of Rs 15,000 crore. Tata Sons plans to take out a three-year loan at 7.5-8 percent annual interest.
This is what he said.
It is also worth noting that the banks ‘SBI, HDFC, Bank of Baroda’ have provided nearly 23 thousand crore rupees to the Tata Group for the acquisition of Air India last year.
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