Air India inks deal with US EXIM

New Delhi: Air India has signed a financing agreement with the US Export Import bank (EXIM) for financing the purchase of 11 Boeing aircraft. J.P. Morgan is the disbursing bank for the finance agreement.

The deal is for purchase of four Boeing 737-800 aircraft and seven Boeing 777 aircraft and is worth US$1.1-billion. The financing agreement is part of the 68 Boeing aircraft deal that the airline concluded in December 2005 at an estimated cost of Rs 35,000 crore.