17-Mar-2011 11:42 AM

Air India has no plans to sell bonds

Air India spokesman Kamaljeet Rattan stated the carrier has no plans to sell bonds on behalf of its unit Air India Charters Ltd (Bloomberg, 16-Mar-2011). His comments were made in denying reports that the airline's board had approved the sale of INR20 billion (USD443 million) of bonds through the unit. The management had only approved a corporate guarantee to banks for short-term loans to meet working capital needs of the unit, he said.