Air India's bond sale expected to cover 15% of funding for ten new aircraft

Air India parent, National Aviation Company of India Ltd (NACIL), reportedly announced its proposed USD174.7 million sale of ten-year non-convertible debentures or Rupee bonds is expected to meet 15% of the funding requirement for the acquisition of ten aircraft and a GE 90 engine for Air India and Air India Charters Ltd, the parent company of Air India Express, which is expected to cost USD1.2 billion (The Hindu Business Line, 24-Mar-2010).