National carrier Air India plans to refinance the existing debt of USD 1.15 billion taken from a IDBI-led consortium of banks. The loan was taken to buy 21 new A-320 aircraft from European aerospace giant Airbus.
Civil Aviation Minister Praful Patel in a written reply to the Lok Sabha recently said that Air India has been in discussion with Boeing for compensation on account of delay in delivery of B-787 aircraft.
He added that Boeing has cited several reasons for slower production rate than originally planned by the American firm. “The reasons given by Boeing for delay in delivery of B-787 aircraft includes challenges in completing assembly of the first aircraft, slower production rate than originally planned and mechanics strike,” added Patel. He did not give further details about the compensation package which Air India proposes to seek. News reports said earlier that the loss-making national carrier is planning to seek USD 840 million as compensation from US aircraft maker Boeing for the inordinate delay in the delivery of Boeing 787 Dreamliners.
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