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Air India has no plans to sell bonds

17-Mar-2011 11:42 AM

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.