New Delhi Dec 8 (IANS) National passenger carrier Air India has invited bids from banks for Rs 1 500-crore government guarantee-backed "Short Term Loans (STLs)".
The airline has called for financial bids by December 12.
"Air India is looking for Government Guarantee backed INR STLs totalling to Rs 1 500 crore to meet its urgent working capital requirements " the airline said in a tender document issued on Wednesday.
"The tenure of the loan will be upto June 27 2018 extendable from the date of availing the STL. The amount of Rs 1 500 crore will be drawn in December 17 or January 18 in one or more tranches."
--IANS
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