Air India to float USD445m bond issue through Air India Charters

Air India has reportedly finalised a restructuring plan under which it will float a INR20 billion (USD445 million) bond issue through Air India Charters Ltd, a profitable subsidiary which runs low-cost operations under the brand name of Air India Express (Business Standard, 02-Mar-2011). The plan includes expanding the number of Air India Express services from 204 to more than 250 per week, with a new focus on West Asia.