17-May-2012 8:26 AM

Tender floated for sale of six Air India 737-200Fs as Air India shelves Nagpur cargo hub plans

India's Minister of Civil Aviation Ajit Singh stated (16-May-2012) a tender has been floated for sale of six of Air India's Boeing 737-200F aircraft, "because of the highly uneconomic nature of the cargo business operated by this fleet". The proposal for Air India to set up a cargo hub at Nagpur was based on the planned operation of a cargo freighter fleet. Since Air India has decided to phase out/dispose of the six 737-200Fs, the proposal to set up a cargo hub at Nagpur has been shelved for the present. He also said the re-financing of 21 A320 family aircraft for Air India was completed on 27-Sep-2011. The re-financing was through issuance of rated, unsecured, taxable, redeemable, Government of India guaranteed non-convertible debentures (NCDs) aggregating to INR55 billion (USD1.0 billion) on 27-Sep-2011. [more - original PR]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More