Japan’s SMBC Grants air india flight status a $120 million loan to buy Airbus aircraft

An Airbus A350-900 aircraft, delivered in October 2023, was purchased by air india flight status and partially financed through financial transactions.

An Airbus A350-900 is more expensive than $300 million. (Photo courtesy of Getty)air india flight status

In order to buy a wide-bodied aircraft from Airbus, Tata-owned Air India obtained a $12 million loan from Japanese lender SMBC, according to PTI on Wednesday. In October 2023, air india flight status received an A350-900, which was partially financed by Tata, according to an official statement about the transaction.

According to the Japanese lender, Air India’s GIFT City-based branch manages the carrier’s entire fleet services, while this is a secured loan arrangement made through its Singapore branch. Tata recently made a big announcement announcing that it would buy 470 aircraft from Boeing and Airbus for a total of equity contributions from both companies. According to reports, an Airbus A350-900 aircraft costs more than $300 million.

According to well-known Indian lender Hiroaki Mesaki, “SMBC Group is pleased to expand its long-standing relationship with the Tata Group through this deal.” He said that this is the bank’s first-ever aircraft financing transaction of its kind.

air india flight status Chief Commercial and Transformation Officer, Nipun Agrawal, stated that this aircraft is the first delivery of the large aircraft order and is a part of the significant Tompany order that was announced earlier this year. Agrawal emphasized, “This deal is also a big step toward growing our aircraft financing business through the first-ever International Financial Services Centre (IFSC) in India at GIFT City.

As per the statement released by SMBC, India stands as the fifth largest aviation market globally. The aviation sector is expected to grow significantly due to the growing middle class and the growing inclination of emerging segments like millennials towards travel.

Manish Malhotra recently unveiled the new uniform that air india flight status cabin and cockpit crew will be wearing. The new clothing will be formally unveiled in the upcoming months, ushering in a new era for Air India’s offerings.

Chief Executive Officer and Managing Director of Air India Campbell Wilson said, “We are confident that Manish Malhotra’s creative design will write an exciting new chapter for the future of Air India.” The flight crew uniform of air india flight status is one of the most prestigious in aviation history.