Aviation companies raise more than $ 2 billion to buy aircrafts
Aviation companies, including the state-owned National Aviation Company of India and private airliner Jet Airways, have raised more than two billion dollars of overseas debt in October to buy aircraft.
By PTI |
MUMBAI: Aviation companies, including the state-owned National Aviation Company of India (NACIL) and private airliner Jet Airways, have raised more than two billion dollars of overseas debt in October to buy aircraft.
The NACIL raised one billion dollars through External Commercial Borrowings (ECBs) to get aircraft on lease and hire-purchase basis, according to a data released by the Reserve Bank today.
The debt raised by NACIL under the approval route will have to be repaid over a period of 13 years and three months.
Another public sector company Air India Charters raised 430 million dollars of overseas debt to buy aircraft.
Jet Airways raised two ECB loans of 477 million dollars and 82 million dollars in October for lease and hire-purchase of aircraft.
Other important companies which raised ECBs under the approval route during the month include Jindal Stainless (200 million dollars) and Exim Bank (250 million dollars).
As regards the automatic route, Tata Teleservices raised 400 million dollars in October with a repayment period of six years and nine months to import capital goods.
Meanwhile, among the communication companies, Idea Cellular raised 100 million dollars to import capital goods.
Other large corporates which have raised ECBs under automatic route during the month were Suzlon Energy (200 million dollars), Hyundai Motors (150 million dollars) and XL Telecom and Energy (40 million dollars).
The NACIL raised one billion dollars through External Commercial Borrowings (ECBs) to get aircraft on lease and hire-purchase basis, according to a data released by the Reserve Bank today.
The debt raised by NACIL under the approval route will have to be repaid over a period of 13 years and three months.
Another public sector company Air India Charters raised 430 million dollars of overseas debt to buy aircraft.
Jet Airways raised two ECB loans of 477 million dollars and 82 million dollars in October for lease and hire-purchase of aircraft.
Other important companies which raised ECBs under the approval route during the month include Jindal Stainless (200 million dollars) and Exim Bank (250 million dollars).
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As regards the automatic route, Tata Teleservices raised 400 million dollars in October with a repayment period of six years and nine months to import capital goods.
Meanwhile, among the communication companies, Idea Cellular raised 100 million dollars to import capital goods.
Other large corporates which have raised ECBs under automatic route during the month were Suzlon Energy (200 million dollars), Hyundai Motors (150 million dollars) and XL Telecom and Energy (40 million dollars).
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