Air India extends $500-mn bridge financing offer deadline extended

The airline is planning to raise the money to pay for the five Dreamliners

With lenders not showing much interest, Air India (AI) has extended its $500-million bridge financing offer by a week to July 12. The earlier deadline was July 5.

AI is planning to raise the money to pay for the five Dreamliners, to be delivered beginning this month through December. AI had on June 26 invited bids from banks and financial institutions to arrange bridge finance. A bridge loan is used to meet payment commitments until long-term financing is arranged.